Budget collection picks up 20.8% in first seven months

Local budget revenue is estimated at VND 253.2 trillion (US$10.6 billion) in the first seven months of this year, equal to 71.7 percent of the yearly estimate, and up 20.8 percent year-on-year, according to the municipal People's Committee.

Of the total, domestic revenue totaled VND 238.3 trillion, up 23.5 percent, while revenue from crude reached VND 1.9 trillion, up 12.9 percent, and that from import and export activities VND 13 trillion, down 12.9 percent.

In the period, the State-run business sector contributed VND 49.9 trillion to the budget, up 37 percent year-on-year, the foreign-invested sector VND 17.1 trillion, up 23.1 percent, and the non-State sector VND 48.9 trillion, up 6.8 percent.

Collection of personal income tax rose by 0.3 percent to VND 24.7 trillion.

Meanwhile, the capital city's budget spending in the period was estimated at VND 45.7 trillion, up 26.4 percent year-on-year and equal to 43.5 percent of the yearly estimate.

Of the amount, VND 18.8 trillion was spent on development investment, a yearly rise of 53.1 percent, and VND 26.9 trillion was regular expenditure, up 14.2 percent.

In Jan-July, the total mobilized capital of credit institutions in the city was estimated at VND 4.98 quadrillion, up 0.31 percent against the previous month and 2.6 percent compared to that at the end of 2022.

The total credit outstanding balance reached VND 3.06 quadrillion, a month-on-month increase of 0.58 percent and up 4.18 percent compared to that in late 2022./.