According to Director of the Finance Department Ha Minh Hai , the city’s budget revenue in 2016 is predicted to reach 102.6% of the year’s estimate, equivalent to a surplus of VND4.425 trillion. Local budget spending is projected to hit 101% of the estimate, with spending for development investment estimated at 107.7% and regular expenditures estimated at 100% of the assigned estimates.

Evaluating the city’s budget collecting and spending outcomes, the Hanoi People’s Council’s Economics-Budget Committee noted that the above mentioned budget revenue reflected the municipal People’s Committee’s boldness in its regulation as well as the high spirit of responsibility and efforts by sectors, levels and units to exceed the estimates.

Concerning budget spending, the city has balanced and allocated capital for ensuring social security; paid attention to building new-style rural areas and upgrading educational, health and transport infrastructure; and spent on security and defence as well as other pressing fields.

In 2017, the municipal People’s Committee plans a budget revenue estimate which is similar to the estimate assigned by the government and equivalent to 117.8% of the estimate for 2016. Domestic revenue is planned to reach VND185.722 trillion, equivalent to 122.1% of the 2016 estimate, with the revenue from the non-State sector targeted to grow strongly by 141.3% of the 2016 estimate.

The Economics-Budget Committee agreed on the budget spending figures for the local, municipal and district/town levels, as well as on the total municipal and district/town budgeting expenditures recommended by the municipal People’s Committee.

By Vien Nhu