State budget revenue in 2025 is estimated at VND 2,388.8 trillion
According to the 2026 State budget Public Report submitted by the Government to the National Assembly by the Ministry of Finance, the 2025 state budget revenue estimate is 1,966.8 trillion VND; the implementation of the 9-month state budget revenue reached about 1,926 trillion VND, equal to 97.9% of the estimate, an increase of 30.5% over the same period in 2024.
The assessment for the whole year, state budget revenue is estimated at VND 2,388.8 trillion, an increase of VND 421.9 trillion (+21.5%) compared to the estimate, an increase of 16.9% compared to 2024. The rate of mobilization into the state budget reached about 18.7% of GDP, tax and fee collection alone reached 13.5% of GDP. Basically, it is estimated that all state budget revenue areas will meet and exceed the assigned estimates.
According to the Ministry of Finance, since the beginning of the year, the Government has directed the implementation of the Tax Laws and the task of collecting state budget revenue. With implemented solutions, combined with the recovery momentum of the economy, it has positively impacted the state budget revenue results in 2025.
The estimated state budget expenditure for 2025 is VND 2,577.2 billion; the implementation of state budget expenditure for the first 9 months is estimated at VND 1,634.8 trillion, equal to 63.4% of the estimate, up 31.4% over the same period in 2024; the whole year of state budget expenditure (including increased expenditure for policy beneficiaries according to Decree No. 178/2024/ND-CP and Decree No. 67/2025/ND-CP of the Government from the central budget's salary reform source and increased expenditure from the increased state budget revenue source) is estimated at VND 3,059.1 trillion, an increase of VND 481.9 trillion (+ 18.7%) compared to the estimate.
To complete the target of disbursing 100% of public investment capital in 2025, the Government and the Prime Minister requested ministries, agencies and localities to urgently allocate the capital plan that has been allocated but not yet allocated in detail according to regulations, regularly review and evaluate the disbursement situation for each project, clearly identify the shortcomings and weaknesses at each stage to promptly handle shortcomings in site clearance, acceptance, settlement of investment capital and raw materials, etc.
Classify projects according to disbursement levels to transfer capital from slow-disbursement projects to good projects. At the same time, it is necessary to focus on implementing the two-level local government model, quickly handling public investment problems, and stabilizing and arranging qualified staff to ensure disbursement progress.
The National Assembly's 2025 state budget deficit estimate is 471.5 trillion VND, equal to 3.8% of GDP. Of which, the surplus for state budget expenditure is 443.1 trillion VND; the surplus for local budget expenditure (NSDP) is 28.4 trillion VND.
Based on the above-mentioned ability to collect and evaluate state budget expenditures for the whole year, the state budget expenditure surplus is estimated at about VND 462 trillion, equal to about 3.6% of GDP, down about VND 9.5 trillion compared to the estimate. Of which, the expected increase in the state budget expenditure is estimated at the estimate, the increase in the state budget expenditure is reduced by about 9.5 trillion VND, due to a reduction in investment expenditure from local loans.
It is expected that by the end of 2025, public debt will be about 35-36% of GDP, government debt will be about 33-34% of GDP, and the Government's direct debt repayment obligation will be about 19-20% of state budget revenue.
The state budget revenue estimate for 2026 increased by 28.6% compared to 2025
Inheriting the positive results achieved in 2025, our country enters 2026 with many expectations and breakthrough goals in the new era. Based on the assessment of the implementation of the state budget in 2025 and the socio-economic development plan for 2026 (expected GDP growth rate of 10% or more; average growth rate of consumer price index (CPI) of about 4.5), the Ministry of Finance estimates the state budget in 2026.
The estimated state budget revenue is VND2,529.4 trillion, an increase of 28.6% compared to the 2025 estimate and an increase of 5.9% compared to the estimate for 2025, the mobilization rate to the state budget is about 17.4% of GDP, of which tax and fee revenue is about 13% of GDP.
According to the Ministry of Finance, the state budget revenue estimate is built at a positive level, closely following the double-digit economic growth target, in the context of the world economy still having many unpredictable fluctuations due to geopolitical complexity and the problem of counterpart taxes in the United States, requiring all levels and sectors to be highly determined to carry out the state budget revenue task right from the first months of the year.
The total state budget expenditure in 2026 is estimated at about VND 3,159.1 trillion, an increase of 22.6% compared to the estimate in 2025.
The estimated state budget deficit in 2026 is 605.8 trillion VND (about 4.2% GDP). Of which, the NSTW expenditure deficit is VND 583.7 trillion (about 4.0% GDP), the NSDP expenditure deficit is VND 22.1 trillion (about 0.2% GDP).
