Bud­get tar­get within reach

Outlook - - HOME TURF -

The Gov­ern­ment will im­ple­ment com­pre­hen­sive mea­sures to meet next year's an­nual state bud­get rev­enue tar­get of VNÑ911.1 tril­lion (US$42.774 bil­lion), not­with­stand­ing the in­signif­i­cant ef­fect of the global oil price de­cline.

Some ex­perts are con­cerned about the re­duc­tion of the state bud­get next year as the ex­port value of crude oil, which has fall- en by 30 per cent to a four-year low of roughly $60 per bar­rel, con­trib­utes sig­nif­i­cantly to the na­tion's cof­fer.

How­ever, Deputy Fi­nance Min­is­ter Ñoã Hoaøng Anh Tuaán said that as of 2014, the state cof­fer has not been heav­ily de­pen­dent on the fluc­tu­a­tion of the world's oil price due to a shift in the state bud­get rev­enue sources.

State rev­enue from do­mes­tic pro­duc­tion makes up more than 70 per cent of the to­tal bud­get, which di­min­ishes the grav­ity of the im­pact of oil ex­port rev­enue.

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