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HCM City targets 17.5 billion USD in budget collection

Ho Chi Minh City was assigned to collect 405.83 trillion VND (17.5 billion USD) for the state budget in 2020, a rise of 1.68 percent compared to last year’s estimates, said Chairman of the municipal People’s Committee Nguyen Thanh Phong.
HCM City targets 17.5 billion USD in budget collection ảnh 1At the conference on state budget collection and spending in 2019 in HCM City (Photo: VNA)
HCM City (VNA) –  Ho Chi Minh City wasassigned to collect 405.83 trillion VND (17.5 billion USD) for the state budgetin 2020, a rise of 1.68 percent compared to last year’s estimates, saidChairman of the municipal People’s Committee Nguyen Thanh Phong.

Phong revealedthe information at a conference on state budget collection and spending in 2019held on December 31.

Of the figure,domestic collection and budget revenue from crude oil are projected to stand atnearly 290.83 trillion VND, up 0.17 percent while import-export activities maycontribute 115 trillion VND, an increase of 5.7 percent.

In 2019, thecity’s total state budget collection was estimated at 409.92 trillion VND (17.7billion USD), exceeding its estimates by 2.7 percent and representing ayear-on-year rise of 8.29 percent.

Its grossregional domestic product (GRDP) exceeded 1.34 quadrillion VND, up 8.32 percentyear-on-year.

Vice Director ofthe municipal Department of Finance Le Ngoc Thuy Trang said 2019 was the firstyear that the HCM City’s budget collection has surpassed the 400 trillion VNDbenchmark.

Meanwhile, thecity spent more than 70.93 trillion VND in the year, or 79.81 percent of itsestimate./.
VNA
#Ho Chi Minh City #state budget in 2020 #domestic collection #budget revenue #import-export activities #vietnamplus #Vietnam News Agency Ho Chi Minh City
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