The northern province of Bac Ninh collected more than VND18.62 trillion to the state budget in the Jan-Aug period of 2020, fulfilling 64% of the estimate or equivalent to 93% of the same period last year, according to a report of the provincial Department of Finance.
Of this, domestic revenue reached more than VND14.7 trillion, fulfilling 65% of the estimate or equivalent to 92% of the same period last year.
In August alone, state budget collection in the locality totaled over VND1.76 trillion, down 18.4% from the previous month; including VND1.24 trillion from domestic activities, down 19.9%, and VND521 billion from customs, down 14.5%.
The report showed that in spite of difficulties in state budget collection, Bac Ninh still prioritized budget spending to regular activities and promoted public investment spending under the direction of the Government in order to stimulate demand, and create capital sources and driving force for economic growth.
According to the Bac Ninh Department of Finance, in August, local budget spending reached more than VND1.65 trillion, up 0.6% against July and up 31.3% year on year.
Totaling the past eight months, total state budget spending in the province posted an estimated VND12.59 trillion, including more than VND6.2 trillion spent on investment and development and over VND5.04 trillion spent on regular activities.
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