(VOV) – The National Assembly Standing Committee on Wednesday discussed the state budget in 2011 at its 17^th session.

The 17th session of the National Assembly Standing Committee (Source: vietnamplus.vn)

According to a government report, the total state budget’s collection in 2011 was estimated at nearly 970 trillion VND, 21.3 percent higher than the National Assembly’s estimates. Most of the participants agreed that the state budget revenues exceeded the estimate, 3 times higher than the Government’s target of increased collection. This showed that estimate planning has not accurately calculated, having considerable impact on the management of the state budget. Some participants said this was attributable to price hikes, increasing import tariffs for some products, as well as collection from housing and land fees. Production and business activities only accounted for 20 percent of the total revenues. Though the state budget revenue is high, it does not due to the internal resources of the economy.

Regarding state budget expenses in 2011, according to the report, the total state budget balance of expenditures was 8.5 percent above the estimate, mainly due to development investment.