Hai Phong has an additional 926 billion VND because of revenue exceeding the budget

Due to import-export revenue exceeding 20% ​​in 2022, Hai Phong was rewarded and supplemented with more than VND926 billion to reinvest in the city.

Import and export of goods at Tan Vu port - Hai Phong. Photo: Giang Huy

According to the People's Committee of Hai Phong City, in 2022, the city's budget revenue from import-export activities reached 67,806 billion VND, exceeding the assigned target by 11,876 billion VND. According to the decree on special financial and budgetary mechanisms and policies for Hai Phong, the city was awarded 65.3 billion VND and received an additional 861.3 billion VND in reinvestment under special mechanisms.

With this amount, the 14th session of the City People's Council on March 22 decided to allocate more than VND 896 billion for public investment and supplement the capital entrusted through the City Social Policy Bank branch to lend to create jobs for socio-economic development of VND 30 billion.

In 2023, the state budget revenue in the area will reach 103,619 billion VND. This year, the city sets a target of state budget revenue of 106,761 billion VND, of which revenue from import-export activities is 60,000 billion VND.

According to Decree 89 on special financial and budgetary mechanisms and policies for Hai Phong City, the city is annually allowed to supplement with a target of no more than 70% of the increase in central budget revenue from revenues divided between the central budget and the city budget compared to the Prime Minister's assigned estimate (the remaining amount after bonus for excess revenue).

In 2022, Hai Phong will also be rewarded with 285 billion VND for exceeding import-export revenue in 2021 and receive reinvestment of 1,500 billion VND.

Le Tan

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