Hanoi's budget revenue up 25% in January-July period
Budget revenue from securities, real estate and banking increased sharply compared to the same period last year.
Budget revenue from securities, real estate and banking increased sharply compared to the same period last year.
The cut would lead to an estimated decline of VND1.4 trillion (US$60.3 million) in state budget revenues per month.
Vietnam recorded a trade surplus of US$2.67 billion during the period.
A low budget revenue in January is due to the fact that the economy is currently struggling with the ongoing Covid-19 outbreak.
Hanoi's economic growth is set to rebound to 7.5% next year as the city continues to pursue the dual target of both containing the pandemic and boosting economic recovery.
As of August 15, budget revenue collection reached VND812.2 trillion (US$35.04 billion), equivalent to 53.7% of the year's estimate.