Ho Chi Minh City’s budget revenue increases, but there are still many difficulties

Thanks to the economic recovery policy, the budget revenue in Ho Chi Minh City recorded quite positive results. However, this activity is forecasted to still have many difficulties and challenges, especially in the context of volatile market, affecting the recovery process of enterprises.

According to data from the People’s Committee of Ho Chi Minh City, in the first quarter of 2022, the total state budget revenue estimated at over 121 trillion dong, equaling more than 31% of the estimate and increasing by nearly 9.5% over the same period.

Although the total budget revenue increased, the revenue related to product tax relatively low growth, mainly thanks to revenue from real estate and the sharp increase in crude oil prices.

In addition, revenue from economic activities decreased significantly in some areas. Leaders of the city’s finance industry said that if it cannot be offset by strong enough economic growth, it will immediately affect budget revenue and local spending plans this year.

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