Hanoi’s budget revenue rises 13.5 percent against 2018

09:15 | 03/01/2020 Finance - Banking

As of December 31, 2019, Hanoi posted total budget revenue of over VND249 trillion (US$10.74 billion) since the beginning of the year, equivalent to 101.5% of the year’s estimate and up 13.5% over the same period in 2018.

Chairman of the Hanoi People's Committee Nguyen Duc Chung presents a certificate of merit to the Hanoi Tax Department

In particular, revenue from crude oil and domestic goods reached over VND 247.2 trillion, reaching 100.6% of the year’s estimate, up 12.6% year-on-year; revenue from land use fees reached over VND 22.3 trillion, accounting for 101.9% of the estimate, up 24.8% compared to that of 2018.

Most of the city’s budget revenue targets witnessed high growth compared to 2018. The revenue structure shifted in a sustainable manner with a rise in the proportion of tax and fee revenue and reduction of revenue related to natural resources and land.

In addition, revenue from state-owned enterprises increased by 18.3% while revenue from non-state sector increased by 19.5% over the same period last year.

Theo NDO