HÀ NỘI — Hà Nội’s budget revenue is poised to reach a record high of VNĐ641 trillion (US$24.3 billion) this year, according to the municipal People’s Committee report on the implementation of the 2025 socio-economic development plan.

The results are impressive, surpassing the adjusted target by 24.9 per cent and also 24.9 per cent higher than last year, despite ongoing global and domestic economic uncertainties.

Statistics from the Hà Nội Department of Finance showed that in the first 11 months of this year, the capital city collected around VNĐ625.2 trillion for the budget, up 39.6 per cent over the same period last year.

Of this figure, domestic revenue totalled VNĐ587.7 trillion, up 40.8 per cent. Meanwhile, revenue from crude oil reached VNĐ2.5 trillion, equivalent to 65.4 per cent of the same period last year, and revenue from imports and exports totalled VNĐ34.7 trillion, up 31.1 per cent.

This revenue will significantly contribute to balancing the capital city’s economy and providing resources for development investment and social welfare.

Municipal authorities attributed the strong revenue performance to Hà Nội’s robust economic recovery this year, with gross regional domestic product (GRDP) maintained at a high level, rigorous fiscal management and enhanced tax administration on e-commerce and retail.

Hà Nội maintained a flexible yet disciplined budget expenditure approach. The capital city is estimated to spend around VNĐ166.2 trillion this year, focusing on investment for development, including transport, healthcare and education.

Looking ahead to both challenges and opportunities in 2026, Hà Nội has set a budget revenue target at VNĐ546.9 trillion.

To achieve this goal, the capital city plans to hasten administrative reforms, ease business difficulties and promote the enforcement of the Capital Law to effectively raise resources for the city’s socio-economic development.

Hà Nội’s economy is projected to grow at 8.5 per cent this year to reach $63.5 billion, accounting for 12.5 per cent of the country’s GDP. The capital city is aiming for a GRDP growth rate of 11 per cent in 2026. — VNS