Vietnam’s state budget records surplus of US$3.35 billion YTD

Vietnam’s state budget recorded a surplus of VND78 trillion (US$3.35 billion) in the first five months of 2018, significantly higher than VND22.4 trillion (US$964.35 million) recorded in the same period last year, according to the Ministry of Finance (MoF). 

The  revenue collection in May reached VND110.2 trillion (US$4.74 billion), accumulating to VND628 trillion (US$27.03 billion) in the January – May period, up 13% year-on-year. 



Upon breaking down, domestic revenue during the period stood at VND507 trillion (US$21.82 billion), equivalent to 43.2% of the year’s estimate and up 13% year-on-year. 



Notably, domestic revenue in May stood at VND82 trillion (US$3.53 billion), VND30 trillion (US$1.29 billion) lower compared to one month earlier. 



Revenue from crude oil exports was estimated at VND5.1 trillion (US$219.56 million), up VND520 billion (US$22.38 million) month-on-month. This resulted in a total of VND23.39 trillion (US$1 billion), equivalent to 52.4% of the year’s estimate and down 2.4% year-on-year. 



Meanwhile, revenue collection from trade activities in May reached VND35.1 trillion (US$1.51 billion), resulting in VND146.7 trillion (US$6.31 billion) in the five-month period. 



Vietnam’s state expenditure in May was VND120.7 trillion (US$5.19 billion), accumulating VND550.2 trillion (US$23.68 billion) in five months, equivalent to 33.7% of the estimate and up 4.2% year-on-year. 



In the year to May 23, the Ministry of Finance issued government bonds worth VND98.3 trillion (US$4.23 billion) with maturity averaging 12.75 years and the interest rate of 4.94% per annum. 



In 2018, state budget revenue was 7.8% higher than the estimate and the budget deficit was kept at VND191.5 trillion (US$8.18 billion), equivalent to 3.46% of the GDP – lower than the estimate of 3.7% of GDP.