A corner of Ho Chi Minh City. Illustrative image. (Photo: VNA)

HCM City,  (VNA) – Ho Chi Minh City collected over 269.1 trillion VND (nearly 11.6 billion USD) for the State budget in the January-September period, up 9.88 percent year on year.

The figure represented 71.44 percent of the yearly estimates, according to the municipal People’s Committee.

Domestic revenues came to 174.43 trillion VND, up 12.97 percent on a yearly basis, while contribution from crude oil surpassed 17.84 trillion VND, up 46.53 percent. Meanwhile, contributions from import-export activities totalled 76.8 trillion VND, down 2.03 percent.

At the same time, the city’s budget expenditure in the period was estimated at almost 39.7 trillion VND, up 8.53 percent from the same period last year and accounting for 45.7 percent of estimates. Of the figure, 15 trillion VND was spent on development investment and 22.26 trillion VND was regular expenditure.

To meet the goal of State budget collection, HCM City has adopted policies to facilitate production and business activities while fighting tax frauds.

The city’s tax department aims to reduce total outstanding tax debt to under 4 percent of State budget collection as of December 31 this year.

In order to tighten control of public expenditure and enhance the efficiency of budget spending, the municipal People’s Committee has required relevant agencies to classify investment projects and define specific priorities for investment.

This year, the central government assigned HCM City to collect 376.78 trillion VND (more than 16.2 billion USD) for the State budget, or over 1.2 trillion VND a day.-VNA