Increase budget revenue in a sustainable way

Almost 5 months but total revenue The State has reached over 56% of the whole year estimate. Central budget revenues and domestic revenues increased, showing that the country’s internal resources are being promoted and the economy is recovering well.

The above results are very important to help balance budget revenue and expenditure, reduce public debt and have a source of spending for development investment, stabilizing the macro-economy in the immediate and long-term.

Due to the good implementation of the policy of both anti-epidemic and economic development, in the fourth quarter of 2021, the country’s economy was quickly restored, creating an important foundation for budget revenue to reach over VND 1.5 million billion.

In which, revenue from land use levy and from crude oil accounted for a small proportion of total budget revenue. This is also a source of support for budget collection in the first 5 months of this year, which continues to achieve very positive results and has reached over 56% of the whole year estimate with a high proportion of domestic revenue.

“Revenue from crude oil, although 2021 and 2022 will exceed revenue by a large amount, the contribution to the total budget revenue has not reached 3%. Revenue still mainly relies on domestic production and business activities”, said Mr. Vo Thanh Hung – Deputy Minister of Finance said.

Budget revenue over the past time has achieved unexpected results in the context of high prices of many input materials, exports to some markets facing many difficulties, and the Government’s implementation of various policies. books on exemption, reduction, and postponement of many taxes and fees.

However, with the Government’s timely solutions to support production and business, well exploit revenue sources and prevent tax loss, budget revenue is increasing in a sustainable direction without depending on crude oil and land. band.

The results of the above budget revenue will create momentum to Financial sector have more room to continue to exceed budget revenue in the remaining 7 months. Sustainable revenue increase will help the State have resources to fight the epidemic and support businesses in difficulty, implement social security policies, thereby maintaining macroeconomic stability.

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