HCM CITY — HCM City has proposed to retain all surplus budget revenue from 2026 to 2030 to fund urban railway projects. Given the significant funding requirements and insufficient local budget resources, the city is exploring various funding mechanisms, including retaining all surplus revenue while still contributing 79 per cent to the central budget. The projected budget revenue is over VNĐ482.85 trillion this year, with VNĐ371.3 trillion collected in the first nine months. Experts have stressed the importance of assessing public debt risks when issuing bonds, as metro revenue will rely heavily on ticket sales. This year, the city’s estimated budget revenue is more than VNĐ482.8 trillion ($19.4 billion).

Source: Viet Nam News October 16, 2024 06:15 UTC