Total revenue and expenditure of the Central Budget in Vietnam in 2025

Total revenue and expenditure of the Central Budget in Vietnam in 2025​ (Image from the internet)

On November 13, 2024, the National Assembly of the Socialist Republic of Vietnam, Session XV, 8th Meeting passed Resolution 160/2024/QH15 on the allocation of the central budget for 2025.

Total revenue and expenditure of the Central Budget in Vietnam in 2025

The total central budget revenue and expenditure for 2025 in Vietnam is as follows:

The total central budget revenue is 1,020,164 billion VND (one trillion, twenty thousand, one hundred sixty-four billion VND).

- The total local budget revenue is 946,675 billion VND (nine hundred forty-six thousand, six hundred seventy-five billion VND).

Using 60,000 billion VND (sixty thousand billion VND) from central budget accumulation for wage reform, and 50,619 billion VND (fifty thousand, six hundred nineteen billion VND) from local budget wage reform surplus by the end of 2024, transferred to the 2025 estimates for Ministries, central and local agencies, to implement a statutory pay rate of 2.34 million VND/month.

- The total central budget expenditure is 1,523,264 billion VND (one trillion, five hundred twenty-three thousand, two hundred sixty-four billion VND), including: an estimate of 248,786 billion VND (two hundred forty-eight thousand, seven hundred eighty-six billion VND) for budget balancing supplements (including an increase of 2% compared to the 2024 state budget estimate and an increase of 917.3 billion VND for Nghe An province's budget to implement Resolution No. 137/2024/QH15 dated June 26, 2024, by the National Assembly on supplementing a pilot of specific mechanisms and policies for Nghe An's development), an estimated target-oriented budget supplement for local budgets (including a supplement of 14,434.4 billion VND to ensure that the balanced budget spending estimates for 2025 do not fall below the balanced budget spending estimates for 2023).

Moreover, the Government of Vietnam is tasked with budget collection and expenditure, allocating the central budget to each Ministry, central agency, each province, and centrally governed city in accordance with the Law on State Budget, the Resolutions of the National Assembly, and notifying each Delegation of National Assembly Deputies from the provinces and centrally governed cities in writing.

Directing and guiding Ministries, central agencies, and provinces, centrally governed cities to allocate state budget investment capital ensuring concentration, focus, adhering to the criteria and priority order stipulated in the Law on Public Investment, the Resolutions of the National Assembly, and the Resolutions of the Standing Committee of the National Assembly; fully settle outstanding payments for basic construction debts per applicable law; recovering all remaining advance capital to be retrieved in the 2021 - 2025 medium-term public investment plan;

Allocating sufficient capital for projects to be completed and handed over before 2025, counterpart funds for projects using ODA and concessional foreign loans, state budget capital for PPP projects, investment preparation tasks, planning tasks, transitional projects to be completed in 2025;

Allocating funds according to progress for national important projects, projects that connect and have inter-regional implications, significantly advancing rapid and sustainable socio-economic development, transitional projects by progress; after allocating sufficient funds for the mentioned tasks, the remaining funds shall be allocated for new projects' commencement, which meet legal investment procedures.

Strictly enforcing financial discipline, handling violations hindering the allocation, implementation, and disbursement of capital; individualizing the responsibility of the leading person in the event of delayed implementation and disbursement, linked to the evaluation of task completion levels.

Allocate regular spending in the economic activities sector with 5,307 billion VND, equivalent to 85% of the administrative order fines on road traffic safety already submitted to the state budget in 2023, to the Ministry of Public Security for ensuring traffic safety tasks, and 936.5 billion VND (equivalent to 15% of the actual occurrence in the local area) will be used for targeted supplement to local budgets for supporting the implementation of traffic safety tasks in local areas.

More details can be found in Resolution 160/2024/QH15 dated November 13, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE