State budget revenue increases by 7.3% over the same period

Budget revenue from FDI enterprises maintained a good growth rate.

In particular, domestic revenue is VND 8,032.8 billion, accounting for 83.4%, reaching 38% of the estimate and up 6.2% year-on-year; Customs revenue is VND 1,604.6 billion, reaching 25.7% of the estimate and up 13.4% respectively.

Some domestic revenues maintained a good increase compared to the first quarter of 2018, such as revenue from FDI enterprises (+7%); personal income tax (+10.9%); non-state tax revenue (+19.2%); fees and charges (+9.6%).

In terms of budget expenditure, in the first quarter, the total local budget expenditure was estimated at VND 4,905.5 billion, gaining 27.7% of the yearly estimate and up 50.2% compared to the first quarter of 2018. In particular, spending for development investment was VND 3,205.5 billion, up 59.7%; recurrent expenditure was VND 1,700 billion, up 34.9%.

The increase in the budget expenditure is due to the province's focus and priority for development investment with many key projects in the field of infrastructure, transport, new rural development under the target of building the Bac Ninh becomes a centrally-run city. For regular expenditures, local budgets also give priority to key sectors such as education and training, health care, national security, and environmental protection,...