state budget

Update news state budget

Government plans to borrow $73.2 billion in 2021-2023

The Government plans to borrow over VND1.7 quadrillion ($73.2 billion) in 2021-2023 to meet the capital demand for socio-economic development, according to the public debt management plan for the next three years approved last week.

VN Electricity Group, Hanoi spend the least from state budget in 2020

As many as 117 State agencies, including 34 ministries, 63 provinces and cities, and 20 state-owned corporations saved more than VND84,635 billion, including VND50,628 billion for the state budget last year.

When the state budget once walked a 'tightrope'

Vietnam has been making efforts in recent years to consolidate its fiscal situation to help create a wealthy financial system and a healthy macro economy.

Macrostability helps cultivate market confidence

Macroeconomic stability and low inflation are the results of persistent management efforts in recent years that aim to make people and businesses feel secure when making investments.

Evaluating and estimating state budget to reduce deficit and increase efficiency

According to Minister of Finance Dinh Tien Dung’s latest report delivered recently at the National Assembly (NA), Vietnam achieved most of its financial goals in the last four years, including for 2020.

State budget revenue hits 98 per cent of annual target

More than VND1.48 quadrillion (US$64.2 billion) was collected for the State budget in 2020, equivalent to 98 per cent of the target, according to the Ministry of Finance.

State budget revenue totals nearly $60 billion

State budget revenue has reached over VND1.3 quadrillion ($59.5 billion) so far this year, representing 91.14 percent of the annual estimate, according to the Deputy General Director of the State Treasury, Nguyen Quang Vinh.

Fiscal deficit to stay at 4 pct. of GDP next year: Finance Ministry

The Ministry of Finance has announced the State budget estimates for 2021, which target over VND1.34 quadrillion ($58.2 billion) in State budget revenue.

Budget rise to cushion country’s growth hopes

With an expected economic growth rate of 2-3 per cent this year, the National Assembly has decided on a rise in budget deficit in order to ensure state budget spending, amid enterprise revenues being hit by the health crisis.

Pressure on the Finance Minister

As the holder of the keys of the national treasury, Finance Minister Dinh Tien Dung is facing great pressure.

Eight border economic zones prioritized to receive investments

The Ministry of Planning and Investment (MPI) is planning to name a list of eight border economic zones on priority for investment in 2021-2025, or one zone lower than the 2016-2020 period.

Pandemic weighs on budget

The COVID-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.

Public debt: one fourth of state budget collections used to pay debt

The public debt to GDP ratio has been controlled well and has decreased in recent years. But the public debt repayment to budget revenue ratio has steadily increased because of many due debts.

State budget loss of revenue from tax collections is up to hundreds of trillion VND

State auditors have found incorrect application of land rent remission policy in some provinces that did not adjust land rents after the rent stabilization period expired.

Public debt estimated to reach 56.8% GDP by year end

The government’s report on public debt in 2020 and estimates in 2021 show remarkable figures about the national debt.

Ha Long Bay’s entrance fees reinvested to help infrastructure

Around $108.7 million sourced from the State budget, private donors and Ha Long Bay’s entrance fees will be invested this year in building 57 new pieces of infrastructure in Ha Long city, the northern province of Quang Ninh.

Debt limit to be adhered to despite bumps in road

In spite of a dent in state budget revenue and a rise in spending this year causing a big fiscal deficit, the government will be able to retain the country’s public debt situation, ensuring national financial security.

NA deputies agree with solutions for socio-economic recovery

The 14th National Assembly continued its ninth session on June 13 with the discussion on the supplementary assessment of the implementation of the NA resolution on the socio-economic development plan and State budget in 2019 and early 2020.

NA Standing Committee urges Gov’t to build short-, long-term development scenarios

The Government should take the initiative in building short- and long-term scenarios for socioeconomic development and review major targets of the economy for 2020 and 2016-2020, which will be the basis for adjusting targets,

State-owned enterprises forecast revenue down due to virus

Nineteen State-owned groups and corporations expect to incur losses of some VND26 trillion (US$1.1 billion) this year due to the coronavirus crisis.