On April 24, with the majority of National Assembly deputies voting in favor, the National Assembly passed a Resolution on the National Financial Plan and 5-year public debt borrowing and repayment for the period 2026 - 2030.
Accordingly, the Resolution resolves the general goal of building an effective, transparent, and sustainable national finance.
Specific goals, the resolution sets out to strive for total state budget revenue (SBR) in the period 2026 - 2030 to be about 16.4 million billion VND; the average SBR mobilization rate reaches 18% of GDP, the average proportion of domestic revenue is about 87-88% of total SBR revenue, and the proportion of central budget revenue by 2030 will account for about 53-54% of total SBR revenue.
Total state budget expenditure in the period 2026 - 2030 is about 21.2 million billion VND. Of which, development investment expenditure is arranged at about 8.51 million billion VND (of which the medium-term public investment plan is 8.22 million billion VND, including: central budget is 3.8 million billion VND, local budget is 4.42 million billion VND); other development investment expenditure tasks of the central budget outside the scope of the medium-term public investment plan are 290,000 billion VND.
The average proportion of development investment expenditure is about 40% of total state budget expenditure; The average proportion of recurrent expenditure is about 51-52% of total state budget expenditure; Arrange payment of interest and debt to ensure full implementation of obligations when due.
Allocate at least 3% of total annual state budget expenditure for science and technology development, innovation, digital transformation and gradually increase according to development requirements; 20% of total state budget expenditure for education, training and vocational training.
Arrange budget reserves and national financial security and safety reserves to operate proactively, flexibly, and adapt to all situations, ensuring state budget balance.
The Resolution clearly states that the average state budget deficit ratio for the period 2026 - 2030 is about 5% of GDP, including the central budget deficit of about 4.4% of GDP, the average local budget deficit of about 0.6% of GDP; building an annual state budget deficit level according to needs and disbursement progress of development investment tasks.
In addition, the resolution defines and ensures public debt safety with ceiling and warning threshold targets: annual public debt ceiling not exceeding 60% of GDP; warning threshold is 50% of GDP; annual government debt ceiling not exceeding 50% of GDP; warning threshold is 45% of GDP; annual foreign debt ceiling of the country not exceeding 50% of GDP; warning threshold is 45% of GDP.
Also according to the resolution, the total loan amount of the Government for the period 2026 - 2030 is about 6.497 million billion VND; of which the total loan amount of the central budget is about 6.327 million billion VND.
The Government's direct debt repayment obligation for the period 2026 - 2030 is about 3.2 million billion VND. In case of strong economic growth, inflation, exchange rate, and interest rates fluctuations, the Government shall submit to the National Assembly for consideration and decision on the plan to adjust the Government's direct debt repayment obligation.
