What is the State Budget?

State Budget is the entirety of the revenue and expenditures of the State that are budgeted and executed within a specific timeframe as determined by competent state authorities to ensure the execution of the State's functions and duties.

The state budget consists of two types:

- Local Budget: comprises state budget revenues designated for local levels, supplementary revenues from the central budget to the local budget, and state budget expenditures within the expenditure responsibilities of local levels.- Central Budget: comprises state budget revenues designated for the central level and state budget expenditures within the expenditure responsibilities of the central level.

What are state budget revenues?

- All revenues from taxes and fees;- All fees collected from service activities performed by state agencies, in cases where the costs are contracted, they are deductible; fees collected from service activities performed by public service providers and state-owned enterprises submitted to the state budget according to legal regulations;- Non-refundable aid from the Government of Vietnam, governments of other countries, organizations, and individuals abroad to the Government of Vietnam and local authorities;- Other revenues as prescribed by law.

What is the state budget spent on?

- Development investments: constructing roads, bridges, hospitals, schools, etc.- National reserves: supplementing the state reserve fund and financial reserve- Regular expenditures: salaries for public employees, expenditures for national defense and security, etc.- Debt interest payments: paying for domestic loans, foreign loans, aid loans, etc.- Aid: providing assistance to people affected by natural disasters, floods, etc.- Other expenditures as prescribed by law.

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