The stability of domestic production and business activities is one of the reason for high domestic revenue
Of the total figure, four-month domestic collection recorded at VND238.7 trillion (US$10.98 billion), equal to 37.4% of the year's estimate and up 17% over the same period last year.
According to the Finance Ministry, the high figures from domestic revenue were mainly driven by the positive development of the domestic economy, the stability of domestic production and business activities, higher corporate tax collection and the recovery of the real estate market.
Revenue from crude oil was estimated at VND23 trillion (US$1.1 billion), a year-on-year decrease of 32.6% while revenue from import-export activities was reported at VND51.5 trillion (US$2.4 billion), a year-on-year increase of 7.3%.
In the meantime, the budget spending in four months was VND362.7 trillion (US$16.7 billion), resulting in the budget overspending of over VND48 trillion (US$2.2 billion), equivalent to 21.5% of the year's estimate.
Statistics from the Finance Ministry also showed that 55 of 63 provinces and cities nationwide recorded higher budget revenues than that of the same period in 2014 while 49 provinces reported revenues equivalent to or higher than 33% of the year's estimate.