Braving pandemic, HCM City’s budget collection surpasses target hinh anh 1An intersection in HCM City (Photo: VNA)
HCM City (VNA) - Budget collection has become a bright spot of Ho Chi Minh City’s economy in 2021 when it surpasses the year’s target despite severe impacts of the COVID-19 resurgence.

The southern economic hub recorded an estimated 370.483 trillion VND (16 billion USD) in budget revenue this year, equivalent to 101.3 percent of the target, according to a resolution issued by the municipal People’s Council on December 9.

Basing on that result, HCM City targets next year’s budget revenue at 386.568 trillion VND, up 5.9 percent from the 2021 target and 4.3 percent from the figure obtained this year.

Vice Chairman of the municipal People’s Committee Le Hoa Binh said the fourth wave of COVID-19, with a prolonged social distancing period, has seriously affected every socio-economic aspect, particularly businesses’ operations and people’s life.

To assist enterprises, local authorities have reduced taxes and extended tax payment deadlines. As a result, the budget collection has gradually decreased since May. Notably, the revenue dropped strongly year on year in August and September.

Facing that fact, relevant agencies have worked to support businesses and people. Besides, the positive business results of real estate and financial - banking firms in the year’s first half and effect of the tax payment deadline extension have helped boost the budget collection in 2021, Binh noted./.