According to a report from HCM City’s People’s Committee, the whole year’s growth rate is expected to hit 7.5-8 percent. Due to the economic downturn, this year’s budget collection is estimated to fall by VND4,000 billion compared to estimates while the whole year’s consumer price index (CPI) is likely to increase by 7.7 percent.

HCM City’s People’s Committee said that the city should speed up the progress of sewerage projects, as around 66 streets in the city are regularly flooded due to heavy rains.