Update news state budget
The Finance Ministry reported to the National Assembly that the state budget expense in 2022 was VND342.6 trillion, making up 3.6 percent of the national GDP. This is a drop of VND61.7 trillion compared to estimation of 4.3 percent of GDP.
Contrary to projection of a deficit, Vietnam’s state budget landscape in 2022 has witnessed a major surplus, with enterprises in general gradually weathering difficulties to ensure their performance.
From now to 2025, about 400 cadres will be sent to training courses abroad each year. From 2026 to 2030, the figure will be 500.
The Vietnamese Government will implement solutions to ensure the efficient management and use of the funds.
The State budget overspending in 2020 stood at over 216.4 trillion VND (9.3 million USD), equivalent to 3.44 percent of GDP, statistics showed.
Vietnam may not be able to increase its budget deficit next year in order to ensure state budget spending, with the economy still sabotaged and business revenues still dented.
The Ministry of Finance (MoF) is concerned the COVID-19 pandemic would continue to affect State budget revenue in the coming months.
The total state’s spending in 2021-2025 is predicted to reach VND10.26 quadrillion, of which 28 percent would be spent for investment and development.
The Prime Minister has decided to allocate over 1.55 trillion VND (nearly 67.5 million USD) from the State budget this year to the Ministry of National Defence to combat COVID-19.
According to the public investment plan in the period 2021-2025, the total state budget capital allocated for this period is VND2.87 quadrillion, not VND2,750 trillion as being reported to the 10th session of the 14th National Assembly.
Vietnam posted a State budget surplus in the first half of 2021 as revenue outpaced spending despite Covid-19 raging in many parts of the nation, according to the Ministry of Finance.