Vietnam Economy Coronavirus may lower Vietnam’s State budget by VND42.3 trillion: ministry By Pham Nhat Monday, Feb 17, 2020,19:19 (GMT+7) Coronavirus may lower Vietnam’s State budget by VND42.3 trillion: ministryBy Pham Nhat The Hanoi Taxation Department office. Vietnam may face a potential loss of VND42.3 billion to the State budget revenue due to the impact of the coronavirus epidemic – PHOTO: VNA HCMC – The State budget may face a shortfall of some VND42.3 trillion (US$1.8 billion) this year due to the ongoing spread of the novel coronavirus, or Covid-19, according to the Ministry of Planning and Investment. The ministry noted in a report on the impact of the viral outbreak that State budget revenues are expected to fall in the domestic, import and export and crude oil sectors. If the outbreak is contained in the next two or three months, a number of sectors, such as tourism, transport and commercial services and the import and export of farm produce will stand to face the most direct disruption. Also, other manufacturing and business sectors that are capable of regulating their activities will suffer a downturn, stated the ministry, adding that a trivial number of industries will maintain their operations as usual. If the outbreak… Read full this story
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