Jan-Aug State budget revenue drops 8.8%

HCMC – Vietnam’s State budget revenue in the January-August period declined by 8.8% over the same period last year, according to the Ministry of Finance. The total state budget revenue in the first eight months amounted to a little more than VND1.12 quadrillion, equivalent to 69.4% of the 2023 estimate. The central Government achieved around 72.8% of its projected budget, while local budget revenues were lower than expected, meeting only 65.5% of their projections. Tax revenue was VND94 trillion in January 2023 but dropped to just VND75 trillion by August 2023. Total State budget expenditures in the first eight months of 2023 totaled VND1.08 quadrillion, equivalent to 52.1% of the budget estimate.