HANOI, Nov. 30 (Xinhua) -- Vietnam has suffered from a state budget deficit of some 172.2 trillion Vietnamese dong (over 7.72 billion U.S. dollars) in the first eleven months of 2016, according to the General Statistics Office (GSO) on Wednesday.
According to a report on monthly socio-economic situation of Vietnam posted on the GSOs website, the country is expected to collect 852.8 trillion Vietnamese dong (38.24 billion U.S. dollars) to the state budget in 11-month period, accounting for 81.1 percent of the whole years estimate.
Among the figure, domestic revenue stands at 683.5 trillion Vietnamese dong (30.65 billion U.S. dollars), sale of crude oil and export-import activities contribute some 34.5 trillion Vietnamese dong (1.55 billion U.S. dollars) and 131.3 trillion Vietnamese dong (5.89 billion U.S. dollars) to the state budget, respectively.
Meanwhile, from January to November, the countrys state budget spending reaches 1,025 trillion Vietnamese dong (45.96 billion U.S. dollars), accounting for 80.5 percent of the whole years estimate.
Earlier, Vietnam plans to collect over 1,050 trillion Vietnamese dong (47.08 billion U.S. dollars) to the state budget while the state budget spending is forecast to hit 1,273 trillion Vietnamese dong (57.08 billion U.S. dollars) in 2016.
In a related move, at a government regular meeting held Tuesday, Vietnamese Deputy Finance Minister Huynh Quang Hai said the countrys state budget collection will be completed in accordance with the yearly estimate set by the National Assembly.
In order to do so, Hai said his ministry will work with relevant ministries and sectors to address difficulties and promote production, thus increasing the rate of budget collection.
Inspection work will be intensified to prevent fraud, loss of revenue and cut down budget spending, towards balancing the state budget, Hai added.
