HCMC – The total budget revenue of Hanoi City this year is expected to hit VND300,000 billion, or 107.9% of the year’s target, according to the city’s tax department.

The budget revenue of the city this year saw a slight rise of 2.4% over 2021.

According to Mai Son, director of the Hanoi Tax Department, the city initially projected to collect VND281,830 billion.

Hanoi’s budget collection goal was one of the highest in the nation.

Despite facing obstacles, the authorities have made considerable efforts to deal with major operational losses and achieve the objectives.

The municipal tax agency reported a rise in revenue from the industrial and commercial sectors and decreased earnings from activities related to the city’s natural resources.

The city expects to receive a budget revenue of VND325,902 billion next year, a 7.2% increase over the predicted total for 2022.