State budget revenue and expenditure increase sharply
According to the report on the implementation of the February 2025 work program of the Ministry of Finance, in February, the Ministry of Finance submitted to the Government and the Prime Minister to issue 6 Decrees. At the same time, the Ministry has also submitted to the Government a proposal to develop a draft Law on Personal Income Tax (replacement) and a draft Law on Savings and Combat-waste. These are important documents to continue perfecting financial institutions, ensuring synchronization with policies and orientations for macroeconomic management.
Regarding the implementation of the State budget estimate, the total revenue in February reached VND191,900 billion, bringing the accumulated revenue in the first two months of the year to VND499,800 billion, equal to 25.4% of the estimate, up 25.7% over the same period in 2024. Of which, domestic revenue reached 27.3% of the estimate, up nearly 29%. As of March 11, 2025, the budget revenue has reached VND 574,400 billion, equal to 29.2% of the estimate, up 38.2% over the same period.
On the other hand, state budget expenditure in February is estimated at VND 140,600 billion, accumulated for two months reached VND 293,800 billion, equivalent to 11.5% of the estimate, up 13.2%. Development investment expenditure reached VND 60,400 billion, equal to 7.6% of the National Assembly's estimate, the disbursement rate is estimated at 7.32% of the development investment capital plan assigned by the Prime Minister. The Ministry of Finance said that the budget expenditure tasks in the first two months of the year were guaranteed to be in accordance with the estimate, promptly meeting the requirements of socio-economic development, national defense, security, and social security, while implementing support policies for people during the Lunar New Year and the crop year.
The central and local budget balances continue to be guaranteed. In February, the Ministry of Finance issued VND45,110 billion in government bonds, reaching 9% of the annual plan, with an average term of 10.83 years and an average interest rate of 2.91%/year.
Complete the reorganization of the Ministry of Finance's apparatus after the merger
As of February 2025, 118 enterprises have been approved by competent authorities for restructuring projects according to the Government's policy. In the period of 2021-2024, the State has divested capital in 15 enterprises, with a book value of VND 405.2 billion, collecting VND 656.9 billion. In 2025, the plan is to continue divesting capital from 131 state-owned enterprises, expected to collect about VND 10,040 billion.
In the field of financial cooperation and public debt management, the Ministry of Finance has submitted to the Government for approval the 2025 public debt repayment and repayment plan, the 2025-2027 public debt management program, and continued negotiations and signing of loan projects with bilateral and multilateral donors. The repayment of due loans is guaranteed on schedule.
In the financial, securities and insurance markets, as of the end of February, the VN-Index surpassed the 1,303 point mark, up 3% compared to the previous month. The scale of the stock market capitalization reached about 7.29 million billion VND. Insurance fee revenue reached VND34,509 billion, up 5.23% over the same period. The Ministry of Finance said it will continue to improve the legal framework to stably develop these markets, striving to upgrade the stock market this year.
Inspection and examination work has been vigorously implemented, with over 2,600 inspections and examinations in February, recommending financial handling of over VND 5,166 billion, of which over VND 990 billion has been recovered and paid to the budget.
Notably, the Ministry of Finance has completed the arrangement and stabilization of the apparatus after the merger. On February 24, 2025, the Government issued Decree No. 29/2025/ND-CP stipulating the functions, tasks, powers and new organizational structure. On February 28, the Ministry of Finance coordinated with the State Capital Management Committee at Enterprises to organize the transfer of the right to represent state capital owners in 18 corporations and general companies to the Ministry. The new apparatus will officially come into stable operation from March 1, 2025, ensuring smooth operation, without affecting financial and budgetary operations.
