Approval of the state budget estimates for the year 2025 in Vietnam

Approval of the state budget estimates for the year 2025 in Vietnam

The National Assembly of Vietnam has approved the 2025 state budget estimate with the following details:

- The state budget revenue is 1,966,839 billion VND (one trillion, nine hundred sixty-six thousand, eight hundred thirty-nine billion VND).

- Utilize 60,000 billion VND (sixty thousand billion VND) from the central budget's accumulation for salary reform and 50,619 billion VND (fifty thousand, six hundred nineteen billion VND) from the local budget's salary reform surplus carried over to the end of 2024 for allocation in the 2025 budget of Ministries, central agencies, and localities to implement a statutory pay rate of 2.34 million VND/month.

- The total state budget expenditure is 2,548,958 billion VND (two trillion, five hundred forty-eight thousand, nine hundred fifty-eight billion VND).

- The budget deficit is 471,500 billion VND (four hundred seventy-one thousand, five hundred billion VND), equivalent to 3.8% of the Gross Domestic Product (GDP), including:

The central budget deficit is 443,100 billion VND (four hundred forty-three thousand, one hundred billion VND), equivalent to 3.6% of GDP;

The local budget deficit is 28,400 billion VND (twenty-eight thousand four hundred billion VND), equivalent to 0.2% of GDP.

- The total borrowing of the state budget is 835,965 billion VND (eight hundred thirty-five thousand, nine hundred sixty-five billion VND).

The Government of Vietnam is tasked with directing relevant Ministries and agencies to study and propose handling unreasonable issues arising in policies for certain groups and industries (public employees in education, healthcare, etc.); to propose continued adjustment to increase public sector salaries, pensions, social insurance allowances, monthly allowances, and preferential allowances for people with merits if the socioeconomic situation in 2025 is more favorable and sources are balanced, reporting to competent authorities for consideration and decision.

Continue to direct Ministries, central agencies, and localities in streamlining personnel, organizing streamlined administrative machinery, ensuring effective and efficient operations; renewing management mechanisms, financial mechanisms, reorganizing the system of public service providers, reducing direct support from the state budget for public service providers.

More details can be found in Resolution 159/2024/QH15 issued on November 13, 2024.

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