VCN – The production and business activities of the economy continue to recover, helping the State revenue to hit VND1,523.4 trillion and exceed the annual estimate.
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| Illustrative photo: Internet |
In 2021, amid the difficulties of the Covid-19 pandemic, the State Bank of Vietnam has adjusted interest rates appropriately, creating conditions for credit institutions to continue reducing lending interest rates, and supporting economic recovery. The insurance business operated stably; and the stock market developed strongly with the stock market capitalization in 2021 increasing by 45.5% compared to the end of last year.
As of December 24, the total means of payment increased by 8.93% compared with the end of 2020; capital mobilization from credit institutions rose by 8.44%; credit growth of the economy reached 12.97%.
The stock market also saw strong development despite the Covid-19 pandemic. In 2021, the Vietnamese stock market hit new records such as the VN-Index reached 1,500 points; the investment soared (End-November, the investors’ accounts recorded 4.08 million).
As of December 27, the VN-Index saw a year-on-year increase of 34.9% to 1,488.88 points; stock market capitalization surged 45.5% to VND7,702 trillion; the average trading value rose 257.5% to VND26,526 billion per session compared with the average of the previous year.
According to the General Statistics Office, although the realized investment capital of the whole society at current prices in 2021 increased by 3.2% compared to the previous year – the lowest increase in many years, this is a positive result amid the complicated development of the public health crisis in the country and around the world. The increase in foreign direct investment (FDI) attraction, newly registered capital and additional capital showed the belief of foreign investors in Vietnam’s investment environment.
General Director of General Statistics Office Nguyen Thi Huong said the production and business activities of the economy continue to recover, helping the State revenue to hit VND1,523.4 trillion and exceed the annual estimate.
The State budget gives priority to the Covid-19 prevention and control, overcoming natural disasters, ensuring national defense and security, and supporting people affected by the pandemic.
The total State revenue in 2021 is estimated at VND1,523.4 billion, equal to 113.4% of the estimate. Of which, domestic revenue, revenue from crude oil, balanced revenue from imports and exports rose 110.4% or about VND118 trillion, 197.4% or VND22.6 trillion, 122.1% or VND 39.5 trillion, respectively. The total state budget expenditure in 2021 is estimated at VND1,839.2 trillion, equal to 109% of the estimate. Of which, the recurrent expenditure, development investment expenditure, interest payment is 102.3%, 106.4 % and 96.2%, respectively. |
By Xuan Thao/Ngoc Loan