Business

HCM City’s nine-month budget revenue soars

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.
HCM City’s nine-month budget revenue soars ảnh 1Illustration. (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City has collectedmore than 349.9 trillion VND (14.64 billion USD) in State budget revenue in thefirst nine months of this year, up 27.7% year-on-year, on the back of soaringrevenue from real estate and crude oil, according to data from the municipalstatistics 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 fromforeign trade went up 19.7% to close to 104.74 trillion VND, accounting for63.5% and 29.9%, respectively, of the total.

Nine-month budget revenue from crude oil exports reached over23.11 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 beenwitnessing a strong recovery with the GRDP growth hitting more than 30% in the lastquarter.

Yet, HCM City was among the country’s worst performers inpublic investment disbursement since the disbursement rate only reached 25% ofthe yearly plan, prompting the city to double efforts to tackle the issues andaccelerate the progress./.
VNA
#Ho Chi Minh City #State budget revenue #2022 #real estate #crude oil #GRDP growth #HCM City #Vietnam #Vietnam News #Vietnam Plus #Vietnam News Agency Ho Chi Minh City
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