State budget revenue projected to rise nearly 17% in 2025

Vietnam’s total state budget revenue in 2025 is expected to exceed 2.38 quadrillion VND (90.34 billion USD), up nearly 17% from 2024, according to Deputy Minister of Finance Nguyen Duc Chi.

Domestic revenue will continue to be the key pillar of the budget, maintaining a stable growth trend. Although falling crude oil prices may reduce income from oil and import export activities, strong economic recovery and improving business performance are expected to help the overall revenue meet, and even surpass the target.

Despite global economic uncertainties and challenges facing domestic production, the projected results reflect the Ministry of Finance’s flexible and proactive management. Along with fiscal policies supporting businesses and people, the Government is also accelerating the disbursement of public investment, keeping the national budget relatively balanced and helping maintain macroeconomic stability and growth momentum.

Meanwhile, total state spending in 2025 is projected at nearly 3.06 quadrillion VND, up around 19% from the estimate for 2024. Development investment will remain the top priority, with more than 1 quadrillion VND expected to be allocated, an increase of about 30% year-on-year.

Accelerating public investment disbursement, especially for strategic infrastructure, energy transition, and digital transformation projects, is considered a major growth engine. Meanwhile, regular spending will continue to be tightened and used more efficiently to create additional room for development investment and social welfare programmes.

The Government has set a clear goal for 2025: fiscal policy will be closely coordinated with monetary policy to control inflation, ensure financial security, and support economic recovery.

To assist businesses and citizens, the total value of tax, fee, and charge exemptions, reductions, and extensions is estimated at over 200 trillion VND. These measures have been implemented flexibly to ease liquidity pressures, particularly in the manufacturing, export, construction, transport, and technology sectors.

Despite strong spending commitments, the budget deficit is expected to remain under control at around 3.6% of GDP, lower than the 3.8% ceiling approved by the National Assembly.

Economic experts said that this year’s fiscal policy serves a dual purpose acting as a “buffer” to protect businesses and a “spark” to ignite public investment. As disbursement accelerates, public investment is expected to create spillover effects across the private sector, boosting demand for materials, labour, and services, and in turn generating more sustainable state budget revenue in the years ahead.