HCMC’s H1 budget collection rises 20 percent

By Huu Cong   July 30, 2021 | 03:31 pm GMT+7
HCMC’s H1 budget collection rises 20 percent
High-rises in HCMC's downtown area, January 2021. Photo by VnExpress/Quynh Tran.
HCMC earned over VND198.5 trillion ($8.66 billion) in budget collections in the first six months, a 19.75-percent rise against the same period last year.

Of the sum, more than VND131 trillion stems from domestic production revenue, over VND6.8 trillion from selling crude oil, VND60.2 trillion from import-export activities and more than VND38.11 trillion from district budget revenues.

The city's administration said the result was "remarkable" given the pandemic situations.

HCMC is tasked with collecting a budget of VND365 trillion in 2021.

Last year, under pandemic impacts, it earned VND371 trillion, or more than 91 percent of the target compared to VND410 trillion in 2019.

The megacity is currently home to 13 million people including migrants and is among the 20 percent of localities in Vietnam that can cover their own expenditures and contribute to the national coffers.

For decades now, it has been the country's largest moneymaker and assigned the highest state budget collection target.

In recent years, the city’s budget revenue has always made up 25-27 percent of the national figure.

The city has for weeks been the epicenter of Vietnam’s ongoing coronavirus wave, which started in late April.

Its infection tally has jumped to more than 84,500 compared to the national caseload of nearly 130,000.

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