Vietnam Spends $2.45 Billion on Debt Payment in Five Months

Tuan Minh

09:28 28/05/2016

BizLIVE - Vietnam spent some $2.45 billion on repaying aids and debts in the first five months of this year.

Vietnam Spends $2.45 Billion on Debt Payment in Five Months

Vietnam spent $2.45 billion to repay aids and debts in the year to May 15. (Photo: credit.com)

Vietnam spent 55 trillion dong ($2.45 billion) to repay aids and debts in the year to May 15, meeting 35.4% of the year’s plan and increasing 30.33% from a month earlier, according to the General Statistics Office.
In addition, $2.87 billion was disbursed for development projects, and $13.1 billion on regular expenditures, which are meant to keep the administrative apparatus and armed forces running.
In total, the country’s total budget expenditures were estimated at 412.6 trillion dong ($18.42 billion) in the first-four-month-and-a-half period, or 32.4% of the year’s plan.
Meanwhile, state budget revenues amounted 346.2 trillion dong ($15.46 billion) in the period, fulfilling 34.1% of this year’s target.
Of the amount, the government collected $12.69 billion from taxes and fees, $621 million from crude oil, and $2.13 billion from import-export activities.
As a result, Vietnam posted a fiscal deficit of 66.4 trillion dong (nearly $3 billion) in the year to May 15, widening 4.07% from a month earlier.
According to the General Department of Taxation under the Ministry of Finance, tax arrears in Vietnam touched 76 trillion dong ($3.4 billion) at the end of April, swelling 4.3% from the end of 2015.

TUAN MINH

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