Ho Chi Minh City: nine-month budget collection up 9.88 pct
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.
A corner of Ho Chi Minh City. Illustrative image. (Photo: VNA)
HCM City, (VNA)♔ – Ho Chi Minh City collected over 269.1trillion VND (nearly 11.6 billion USD) for the State budget in theJanuary-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 12.97percent on a yearly basis, while contribution from crude oil surpassed 17.84trillion VND, up 46.53 percent. Meanwhile, contributions from import-exportactivities totalled 76.8 trillion VND, down 2.03 percent. At the same time, the city’s budget expenditure in theperiod was estimated at almost 39.7 trillion VND, up 8.53 percent from the sameperiod 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 wasregular expenditure. To meet the goal of State budget collection, HCM City hasadopted policies to facilitate production and business activities whilefighting tax frauds. The city’s tax department aims to reduce total outstandingtax debt to under 4 percent of State budget collection as of December 31 thisyear. In order to tighten control of public expenditure andenhance the efficiency of budget spending, the municipal People’s Committee hasrequired relevant agencies to classify investment projects and define specificpriorities for investment. This year, the central government assigned HCM City tocollect 376.78 trillion VND (more than 16.2 billion USD) for the State budget,or over 1.2 trillion VND a day.-VNA
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A corner of Ho Chi Minh City. Illustrative image. (Photo: VNA) 
