State budget revenue this year recorded a record level, exceeding 2.65 million billion VND, equivalent to 20.7% of the scale of the economy (GDP), according to the Ministry of Finance.
At the summary conference on January 6, the Ministry of Finance said that the total State budget revenue in 2025 will reach about 2.65 million billion VND. This number exceeds nearly 35% of the estimate and is 30% higher than the same period in 2024.
Of which, domestic revenue contributes about 86% of the total budget revenue in 2025, reaching nearly 2.3 million billion VND. Revenue from crude oil only reached more than 90% of the estimate, down over 18% over the same period, due to falling oil prices. Revenue from import and export increases nearly 18% over the same period in 2024. Last year was also the first time Vietnam recorded a record import-export turnover of 930 billion USD.
Budget spending in 2025 is estimated at 2.42 million billion VND, an increase of 31.5% over the same period. The budget deficit is about 3.6% of GDP, down VND 9,500 billion compared to the estimate.
The Ministry of Finance said this resource will prioritize wage reform, development investment spending and social security.
Minister of Finance Nguyen Van Thang spoke at the conference, January 6. Image: MOF
In 2025, Vietnam spends about 1.15 million billion VND for development investment, the highest level ever. The whole country completed 3,345 km of highways and 1,701 km of coastal roads, exceeding the set target. The operator also exempts, reduces, and extends many types of taxes, fees, and land use fees to support businesses and people. The total amount of money to implement this policy is about 290,000 billion VND.
Explaining the reason for the increase in budget revenue, the Ministry of Finance said that tax and customs authorities coordinate with ministries and localities to expand the tax base to collect correctly and fully.
This year, Vietnam targets economic growth of 10% or more. According to Minister of Finance Nguyen Van Thang, financial policy in the coming time will be under great pressure when it has to promote total social investment capital to about 40% of GDP to achieve the double-digit growth target, while maintaining macroeconomic stability.
He said that the financial industry needs to innovate thinking, policies and increase coordination with ministries and localities. At the same time, this agency promotes preventing revenue loss in high-risk areas such as land, real estate, e-commerce, and cross-border transactions. They also increase digital transformation, apply technology (electronic invoices, big data) and connect and share information across sectors to improve the efficiency of budget collection management.
Speaking at the conference, Prime Minister Pham Minh Chinh said that the financial sector needs to promote savings right from the beginning of the year to increase spending on investment in development and people. “National finances must be sustainable, with enough revenue, correct spending, and focused development investment,” he said.
The Prime Minister assessed the double-digit growth target this year and the coming period as “a high mountain to conquer”. But he reiterated the view that “if said, done, commitment must be fulfilled”.
To achieve this goal, the Prime Minister requested the Ministry of Finance to advise on solutions to manage expansionary fiscal policy in a reasonable and focused manner, ensuring national financial security. At the same time, they need to promote the development of household businesses and develop policies to help households become enterprises.
He said ministries and localities need to disburse 100% of public investment capital with the spirit of “capital waiting for projects, not letting projects wait for capital”. The operator plans to focus resources on a number of large projects such as the North-South high-speed railway, 3 railway lines connecting with China, nuclear power projects and infrastructure projects to effectively exploit underground space, sea and space…
In addition, financial management agencies need to strengthen business confidence so that people and businesses can more boldly invest money and do business. He also noted that before January 15, the Ministry of Finance licensed businesses to participate in the pilot of the crypto asset market (sandbox) according to regulations.