HCM City’s nine-month budget revenue soars

Illustration. (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