Hai Duong’s budget revenue estimated at over 19,310 billion VND, 30% higher than expected

Head of the Economic-Budget Board of the provincial People's Council Trinh Thuy Nga concludes the meeting

On the afternoon of November 29, the Economic-Budget Board of the provincial People's Council worked with the Department of Finance on a number of issues related to State budget revenue and expenditure.

As reported by the Department of Finance, the province’s budget revenue in 2022 was estimated at more than 19,310 billion VND, 30% higher than assigned, in which the local budget was entitled to over 15,340 billion VND.

Domestic revenue was estimated at over 16,420 billion VND, up 33% over the assigned estimate and equivalent to 89% of 2021’s figure. 

Of 13/16 sources that satisfied estimates, some posted high revenues, such as 4,495 billion VND from the foreign-invested business sector, 2,988 billion VND from the non-State industrial, commercial, and service sector, and 4,721 billion VND from land use fees, 45%, 29%, and 48% higher than the year’s estimates, respectively.

Deputy Director of the Department of Finance Tran Thi Hai Ha clarifies some issues related to budget revenue and expenditure

On the basis of expected revenue sources, the total local budget expenditure in 2022 was estimated at nearly 19,820 billion VND, an increase of 28% over the year’s estimate.

Head of the Economic-Budget Board Trinh Thuy Nga suggested that the Department of Finance absorb and follow up conclusions of the Regional State Audit Office No. 6 to adjust and complete the 2021 local budget settlement.

Regarding the implementation of the 2022 budget estimates, the 2023 local budget allocation plan, the financial-budget plan for three years from 2023 to 2025, the head of the Economic-Budget Board recommended the Department of Finance to give advice on decisions of the provincial People's Committee submitted to the provincial People's Council related to the use of financial and budget reserve funds in line with provisions of the Law on State Budget.

The Department of Finance should early determine revenue increase and expenditure saving data (if any) to report to the provincial People's Committee as a basis for submission to standing members of the provincial People's Council and report to the provincial People's Council at the nearest meeting.

HA KIEN