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An worker counts cash at a financial institution in Hanoi. Picture by VnExpres/Anh Tu
Vietnam’s price range deficit widened by 34 % in 2020 however remained inside the restrict set by the Nationwide Meeting, Minister of Finance Ho Duc Phoc has stated.
Revenues had been VND2.28 quadrillion and spending was VND2.53 trillion, leading to a VND216.4 trillion ($9.3 billion) deficit, or round 3.44 % of GDP.
The deficit was sharply up from VND161.5 trillion the earlier 12 months, however was beneath the cap of VND368.3 trillion set by lawmakers.
State Auditor Normal Tran Sy Thanh stated revenues fell in need of estimates, particularly accruals from land use charges, which had been solely 72 % of the goal, and earnings from state-owned corporations, which was a mere 37 % of the goal, he added.
Public money owed rose by 6 % to VND3.52 quadrillion (55.94 % of GDP), or round VND35 million per capita.
The Nationwide Meeting’s cap for public debt is 65 % of GDP.
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