Vietnam's 2014 budget revenue, spending both exceeded estimates: report

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Vietnam's state budget revenue hit VND863.5 trillion (US$39.87 billion) last year, 10.3 percent higher than estimates, the Ministry of Finance reported on Monday. 
The exceeding amount has not been used to reduce the country's budget deficit. Instead, the country even spent more last year, leading to an expenditure level that was 8 percent above estimates. 
A total of VND1,087 trillion ($50.2 billion) was spent last year, of which more than 67.3 percent on the state apparatus, including administrative systems and national defense, Finance Minister Dinh Tien Dung said.
About 11 percent of the expenditure was for debts payments, and the rest for developmental projects, according to the ministry's report.
The state budget deficit was pegged at VND223.5 trillion ($10.3 billion), almost the same as the target by the National Assembly, which was around 5.3 percent of gross domestic product.
The deficit was 4.8 percent of GDP in 2013. 

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