Higher-than-expected revenue improves Vietnam's fiscal footing

Thanh Nien News

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Vietnam's budget revenue hit VND858 trillion (US$40.17 billion) last year, nearly 10 percent higher than target despite some economic difficulties, a deputy finance minister said Tuesday.
The extra amount would be spent paying debts and raising salary, Nguyen Thi Mai was quoted as saying on news website Thoi Bao Kinh Te Saigon Online.
Most of the country's cities and provinces received more revenue than anticipated, she said. 
The state government also raised more than VND248 trillion ($11.6 billion) through bonds, up 37 percent from 2013, according to the Ministry of Finance.
A total of 177 state-owned enterprises were restructured last year, including 115 companies which were privatized, it said. 
Over VND2.4 trillion ($112.3 million) in state capital was diverted from securities, banking, insurance and real estate, which was 2.5 times higher than 2013. 
In a separate document released by the ministry on January 8, budget deficit is expected to fall to 5.0 percent of GDP this year, compared to the estimated 5.3 percent in 2014. 

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