The Ministry of Finance said on September 3 that cumulative state budget revenue in the first eight months of 2026 was estimated at VND2.024 quadrillion ($77.2 billion), equivalent to 80% of the full-year estimate and up 16% from the same period in 2025.

In August alone, state budget revenue was estimated at nearly VND150.4 trillion ($5.7 billion), or around 6% of the annual estimate. Domestic revenue was estimated at VND130.3 trillion ($5 billion), equivalent to 5.9% of the estimate and just 52% of the average monthly revenue recorded during the first seven months of the year, mainly due to tax exemption, reduction and deferral policies.

Revenue from crude oil in August was estimated at VND5.8 trillion ($221 million), equivalent to 13.5% of the estimate and 93% of the average monthly revenue during the first seven months. The average crude oil settlement price during the period was estimated at $95.4 per barrel, around $25.4 per barrel above the budgeted price. Output was estimated at 0.73 million tonnes, equivalent to 9.1% of the target.

Meanwhile, balanced revenue from import-export activities was estimated at around VND13 trillion ($496 million), equivalent to 4.7% of the estimate and 40.5% of the average monthly revenue during the first seven months, mainly because growth in taxable import turnover showed signs of slowing compared with the early months of the year.

Compared with the same period in 2025, balanced revenue from import-export activities fell sharply by 45.9% in August.

During the first eight months of the year, approximately VND209.2 trillion ($8 billion) in taxes, fees and land rents were exempted, reduced or deferred. Of this amount, exemptions and reductions totaled around VND158.2 trillion ($6 billion), while approximately VND51 trillion ($1.9 billion) was deferred.

On state budget expenditure, the Ministry of Finance said total spending in August was estimated at VND238.1 trillion ($9.1 billion). Cumulative expenditure during the first eight months was estimated at more than VND1.6 quadrillion ($61 billion), equivalent to 50.9% of the annual estimate and up 13.3% from the same period in 2025.

Of the total, development investment spending was estimated at around VND514.6 trillion ($19.6 billion), equivalent to 45.9% of the estimate approved by the National Assembly. Interest payments reached an estimated 63.3% of the annual target, while recurrent expenditure stood at 56.1%.

The balance of the central and local government budgets remained secure. During the first eight months, the Ministry of Finance proactively managed capital mobilization for the central budget, issued government bonds and made effective use of the state treasury to promptly meet financing needs for the central government’s budget deficit and principal debt repayments.

To date, the Ministry of Finance has issued VND228.9 trillion ($8.7 billion) worth of government bonds, with an average maturity of 9.03 years and an average annual interest rate of 4.15%.

Public investment disbursement exceeds $18.2 billion

The Ministry of Finance said the total 2026 public investment plan funded by the state budget and assigned by the Government and Prime Minister amounted to more than VND1.02 quadrillion ($38.9 billion). Of this, more than VND372 trillion ($14.2 billion) came from the central budget and more than VND650 trillion ($24.8 billion) from local budgets.

More than VND83.216 trillion ($3.2 billion) in funding under the Government’s allocation authority remained unallocated. Meanwhile, local authorities had assigned an additional VND14.709 trillion ($561 million) in locally balanced investment capital beyond the plan allocated by the Prime Minister.

As a result, the total 2026 capital plan at the time of reporting, including the allocation assigned by the Prime Minister and additional locally balanced capital, stood at more than VND1.03 quadrillion ($39.3 billion).

Regarding disbursement, the Ministry of Finance said that as of August 20, more than VND477 trillion ($18.2 billion) had been disbursed since the beginning of the year, equivalent to 46.7% of the plan assigned by the Prime Minister.

Compared with the same period in 2025, disbursement increased by around VND90.9 trillion ($3.5 billion) in absolute terms and was about 8.7 percentage points higher in percentage terms.

Notably, 25 ministries and central government agencies and 16 localities still had disbursement rates below the national average. Among them, four ministries and central agencies recorded disbursement rates below 6% or had yet to make any disbursements.

Nguyen Le