Seven-month overspending estimated at 4.6 billion USD

Thien Thanh Sanitaryware joint company



Seven-month overspending estimated at 4.6 billion USD

Budget overspending reached an estimated 100.7 trillion VND (4.6 billion USD) in the first seven months of this year, equal to 44. 5 percent of the year’s budget estimates, the Ministry of Finance said on August 5.

Total revenues in the first seven months were 544 trillion VND or 59.8 percent of the year’s estimates, up 6.6 percent against the same period. Of which 404 trillion VND came from domestic revenue and the rest from import-export activities.

In the period, the country spent 645.3 trillion VND, or 56.3 percent of the year’s estimates, representing an 8.1 percent increase from last year.

To compensate for the over-expenditure, 114.5 trillion VND worth of government bonds were issued this year to July 25.