Vietnam’s budget collection in 2022 is expected to be over 1.41 quadrillion VND ($61.7 billion), while expenditure is estimated at about 1.78 quadrillion VND ($78.05 billion), up by 4.5 per cent compared to 2021 figures, according to a finance ministry report on state budget estimates for 2022. The budget deficit for 2022 is estimated at 372.9 trillion VND ($16.31 billion), equivalent to 4 per cent of the gross domestic product (GDP).

Revenues of the central budget is estimated to account for 52.36 per cent of total budget collection, equivalent to 739.13 trillion VND ($32.33 billion), while 47.64 per cent, or 627.57 trillion VND ($27.45 billion) will be collected for local budget, according to Vietnamese media reports.

This year, two more localities are expected to contribute to the central budget, raising the number of such localities to 18.

Vietnam’s budget collection in 2022 is expected to be over 1.41 quadrillion VND, while expenditure is estimated at about 1.78 quadrillion VND, up by 4.5 per cent compared to 2021 figures, according to a finance ministry report on state budget estimates for 2022. The budget deficit for 2022 is estimated at 372.9 trillion VND, close to 4 per cent of the GDP.

Other macro-economic indices for 2022 include a GDP growth of 6-6.5 per cent, average consumer price index (CPI) rise of about 4 per cent, total export revenue expansion of about 5.4 per cent, and total social development investment accounting for about 32-34 per cent of the GDP.

Fibre2Fashion News Desk (DS)