State budget work in 2017 announced

VGP - A conference was held by the Ministry of Finance in Ha Noi on January 8 to review the finance-State budget work in 2017 and roll out tasks for this year.

January 09, 2018 2:23 PM GMT+7

Photo: VGP/Thuy Dung

According to the ministry’s report, budget collection is expected to grow by 3% against the estimate assigned by the National Assembly and budget overspending is projected to be capped at 3.7% of GDP as set by the legislature.

Photo: VGP/Thuy Dung

The ministry reported that 2017’s total budget collection stood at VND1.2 quadrillion, up VND71 trillion or 5.9% compared with the estimate, and VND43.7 trillion more than the target set by the National Assembly.

In the year, budget deficit was more than VND174 trillion, equivalent to 3.48% of GDP, within the legislature’s estimate.

By Thuy Dung