Under the report, recently released by the Ministry of Finance, state budget expenditures would be 2.07 quadrillion VND, a rise of 16.3% as compared with this year’s estimate.

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Meanwhile, the country’s GDP is expected to grow about 6.5% and GDP per capita income would reach some 4,400 USD. The manufacturing and processing sector is set to make up from 25.4 - 25.8% of the national GDP and the consumer price index (CPI) would increase by around 4.5% in the year. The poverty rate is hoped to reduce 1-1.5%.

The State budget overspending is projected at 455.5 trillion VND, equivalent to 4.42% of the national GDP.

The report also introduces major solutions relating to financial and State budget management in the year, focusing on responding to complicated changes in the domestic and international situation, maintaining macro-economic stability, controlling inflation and ensuring major economic balances.

It mentions consolidating the State budget collection system, and amending, supplementing and perfecting tax management institutions to ensure the accurate and timely collection of taxes and fees.

The responsibility of leaders of relevant agencies will be promoted and unnecessary expenditures will be cut, according to the report.

Vietnam calls for budget guarantee for UN development system

Minister Counsellor Le Thi Minh Thoa, Deputy Permanent Representative of Vietnam to the United Nations (UN), called for international efforts to ensure financing for the UN development system’s operation during a debate of the UN General Assembly’s Economic and Financial Committee on October 14 in New York.

State budget collection almost reaches yearly target

State budget collection in the January-September period was estimated at over 1.32 quadrillion VND (55.9 billion USD ), reaching 94% of the yearly target, and up 22% from the same period last year, according to Deputy Finance Minister Nguyen Duc Chi.

State budget collection reaches 85.6% of yearly target

The total State budget collection in the first eight months of this year has been estimated at 1.2 quadrillion VND (51.3 billion USD), equivalent to 85.6% of the annual target, according to the Ministry of Finance.

Vietnam among 6 most budget-friendly foodie destinations

Scotland-based travel agency Skyscanner has named Vietnam among six best foodie destinations "without worrying about blowing your budget" alongside Mexico, India, Thailand, Nepal and Singapore.

Tax sector sees good results in State budget collection

The tax sector collected 911.02 trillion VND (38.9 billion USD) of State budget in the first seven months of this year, a year-on-year rise of 17.2%, and equivalent to 77.5% of its yearly estimate, according to the General Department of Taxation.

Source: VNA