TITLE

Oil prices boost revenue

PUB. DATE
February 2005
SOURCE
Asia Monitor: South East Asia Monitor Volume 1;Feb2005, Vol. 16 Issue 2, p4
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
This article informs that the Vietnam government has forecast a fiscal deficit for 2005 of 5% of GDP, unchanged from 2004. Total government revenue has been buoyed by the high oil price, which has compensated for the loss of tariff revenue. Vietnam government revenues for 2004 remain on target, with the government collecting 79% of its expected annual revenues after nine months. Government revenues in 2004 have benefited from higher-than-expected non-tax sources, such as the profits of oil-producing state-owned enterprises. Vietnam is Asia's third largest producer of crude oil after Indonesia and Malaysia, and the government benefits significantly from a higher oil price.
ACCESSION #
16605988

 

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