Budget overspending lower than forecast

According to the latest report of the MoPI, compared to the same period last year, budget collection and spending in the first five months were relatively high, accounting for 38.3% and 33.8% of the year estimate respectively. 

With VND 20,200 billion, the budget overspending in the reviewed period was equivalent to 11% of the total budget collection and accounted for 17% of the budget overspending estimate in 2010.   

It is reported that, in recent years, Viêt Nam’s budget overspending has always been at a high level, accounting for 5% of the country’s GDP in 2005-2008 and 6.9% in 2009. 

The record high in 2009 was resulted from the Government-initiated economic stimulus packages and social welfare policies in response to the global crisis.

By Hương Giang