HCM City’s nine-month budget revenue soars

Illustration. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City has collected more than 349.9 trillion VND (14.64 billion USD) in State budget revenue in the first nine months of this year, up 27.7% year-on-year, on the back of soaring revenue from real estate and crude oil, according to data from the municipal statistics office.

The amount was equivalent to 90.5% of the yearly plan.

From January to September, domestic collection surged 26.3% against the same period last year to exceed 222 trillion VND while that from foreign trade went up 19.7% to close to 104.74 trillion VND, accounting for 63.5% and 29.9%, respectively, of the total.

Nine-month budget revenue from crude oil exports reached over 23.11 trillion VND, up 116% year-on-year and 20% higher than the year’s plan. It made up 6.6% of the total.

Collection from the real estate sector spurred 152.3% year-on-year thanks to the market vibrancy in the early months of the year.

The southern hub posted a Gross Regional Domestic Products (GRDP) growth of 9.71% during the period, given that the local economy has been witnessing a strong recovery with the GRDP growth hitting more than 30% in the last quarter.

Yet, HCM City was among the country’s worst performers in public investment disbursement since the disbursement rate only reached 25% of the yearly plan, prompting the city to double efforts to tackle the issues and accelerate the progress./.

VNA