State budget revenues in HCMC reach nearly $1.8 bin in January

State budget revenue in HCMC reached VND41,700 billion (US$ 1.8 billion) in January, 2019, accounting for 10.45 percent of the year’s estimates and increasing 5 percent over the same period last year, the city Department of Finance reported.

Consumers buy goods in CoopMart (Photo: SGGP)

Consumers buy goods in CoopMart (Photo: SGGP)

Of the total, domestic revenue was nearly VND30, 600 billion accounting for 11.23 percent estimates, crude oil was VND2 trillion making up 11.1 percent and export import activities VND9,100 billion accounting for 8.36 percent.
Domestic revenue surged thanks to rise of regional economy growth up to 11 percent collecting VND22,600 billion accounting for 12.88 percent of the estimates.
The city’s spending reached VND72,627 billion, accounting for 83.61 percent of estimates.
Of the amount, revenue of foreign-invested enterprises rose by 19 percent or equivalent to VND9 trillion and that from state-run companies leaped by 11.3 percent or VND2,460 billion.
Revenue from non-public service and industrial and trade sector increased by 5.3 percent reaching to VND10,160 billion and from state-run firms in localities is smallest with nearly VND1 trillion accounting for 5 percent rise compared to the same period last year.
The central government wants the city to obtain a year on year increase of 7.98 percent in budget revenue to reach VND399,125 billion this year including VND272, 325 billion of domestic revenue and VND18 trillion from crude oil and VND108,800 billion from import-export activities.
Averagely, the city collects around VND1,500 billion a working day.

By HAN NI - Translated by DAN THUY

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