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Friday, June 21, 2024

HCMC’s budget revenue climbs 13.6% in Jan-Feb

The Saigon Times

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HCMC – The budget revenue of HCMC in the first two months of this year reached over VND103,160 billion, equivalent to 21.3% of the year’s estimate and marking a year-on-year increase of 13.6%.

These figures were reported by the HCMC People’s Committee during a meeting on the city’s socio-economic performance held on March 6.

Of the total revenue, domestic sources contributed VND87,600 billion, rising by 25.32% compared to the same period last year. However, revenue from export and import activities amounted to some VND15,500 billion, down by 25.4%.

Total local budget expenditure, excluding advance payments, was estimated at over VND10,370 billion, an upsurge of 61.5% compared to the corresponding period in the previous year. Investment expenditure accounted for about VND3,780 billion, while regular expenditure reached VND6,400 billion.

The HCMC People’s Committee assessed that the socio-economic situation in the first two months of the year displayed positive signs of improvement.

For instance, the real estate market exhibited signs of recovery, with estimated revenue from real estate businesses increasing by 20.1% compared to the same period last year. Moreover, there was an increase in the number of businesses resuming operations and newly registered businesses.

Despite these positive developments, the city’s economy still faces challenges such as a low disbursement rate of public investment and a decrease in the scale of foreign direct investment capital.

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