The Government promotes solutions for state budget collection, public investment and public debt repayment.

Photo caption — Deputy Prime Minister Le Thanh Long spoke to explain and clarify a number of issues raised by National Assembly deputies. Photo: Doan Tan/TXVN

State budget revenue and expenditure exceeded all 12/12 targets.

Deputy Prime Minister Le Thanh Long stated that, in a very difficult context, we have made the greatest efforts and determination in implementing the State budget revenue and expenditure estimates, achieving and exceeding all 12/12 main targets of the entire term. State budget revenue is estimated at 9.6 million billion VND, 1.36 times higher than the previous term, far exceeding the target of 8.3 million billion VND, while tax, fee, and charge exemptions, reductions, and extensions... are about 1.1 million billion VND; revenue increases and expenditure savings are 1.57 million billion VND.

Focus on implementing a reasonable, focused, effective expansionary fiscal policy, closely and harmoniously coordinated with a proactive, flexible, timely and effective monetary policy to contribute to promoting growth. Public debt, government debt, foreign debt, and state budget deficit are well controlled, much lower than the prescribed limit; public debt is reduced from 44.3% of GDP in 2020 to about 35 - 36% in 2025 (limit is 60% of GDP); average state budget deficit is reduced from 3.53% of GDP in the 2016 - 2020 period to 3.1 - 3.2% of GDP in this term.

According to Deputy Prime Minister Le Thanh Long, in the context of a volatile world situation, with generally more difficulties and challenges than opportunities and advantages; the work of building the State budget revenue estimate is carried out according to the principle of prudence, ensuring national financial security and safety (State budget deficit, public debt, government debt, and national foreign debt within the prescribed safety limits), ensuring sufficient resources to meet the requirements of spending on development investment, spending on people, ensuring social security, spending on national defense and security and urgent spending tasks (natural disasters, storms and floods...).

In organizing implementation, the Government has resolutely directed revenue management, ensuring correct, full and timely collection; promoting digital transformation application, expanding the scope of electronic invoices; focusing on preventing revenue loss in e-commerce and service activities (food and beverage, hotels, etc.).

Revenue from e-commerce in 2025 will reach about 172,000 billion VND, an increase of 67% compared to 2024; applying new tax collection solutions for business households, in the first 9 months of 2025 it will reach 25.1 trillion VND (an increase of 29.6% compared to the same period in 2024); the whole year is estimated to reach over 33 trillion VND.

The total increase in state budget revenue for the entire 2021 - 2025 term reached 1.57 million billion VND, used to increase spending on development investment, spending on people (salary increase), national defense and security and other urgent important tasks.

In the budget revenue structure for the 2021 - 2025 period, revenue from production and business accounts for the main proportion of 62.5%, revenue from land use fees accounts for 13%, revenue from import and export accounts for 13.2% (previous term was 61.7%; 10.1% and 14.1% respectively).

Regarding the structure of state budget expenditure, development investment expenditure accounts for 32-33%; regular expenditure accounts for 57-58% (previous term accounted for 28% and 63.2% respectively). In the 2026 - 2030 plan, development investment expenditure will increase to 40%; regular expenditure will be about 50.7%.

"The 2026 State budget revenue estimate is built closely following the goals and tasks according to the Resolutions of the Party and the National Assembly. Of which, domestic revenue from production and business will increase by about 11.1%, the highest level ever, higher than the economic growth target (10%); at the same time, taking into account the impacts and influences of factors on revenue from import and export, land, resources...", Deputy Prime Minister Le Thanh Long said.

In the coming time, the Government will continue to direct the Ministry of Finance and relevant agencies to deploy solutions to enhance the application of information technology and digital transformation, focusing on doing a good job of analysis and forecasting to serve the development of revenue estimates and management of state budget revenue and expenditure.

Disbursement of public investment capital increased sharply at the end of the year

Deputy Prime Minister Le Thanh Long said that the disbursement of public investment capital from the beginning of the year to October 23, 2025 was VND465,000 billion, reaching 51.7% of the plan assigned by the Prime Minister; the disbursement rate is equivalent to the same period in 2024 at 51.5%, but the absolute capital is about VND115,658 billion higher (the same period in 2024 was VND349,170 billion).

In general, public investment disbursement tends to be low at the beginning of the year and increases sharply at the end of the year because contractors need time to construct and accumulate enough volume for acceptance and payment at the end of the year (during the term, the total disbursement rate for the first 9 months of the year is only about 49 - 51%; while the disbursement result at the end of the year is from 91 - 95%).

Deputy Prime Minister Le Thanh Long said that since the beginning of the term, the Government and the Prime Minister have focused on directing the drastic acceleration of implementation and disbursement of public investment capital right from the beginning of the year; clearly identifying this as a key political task of ministries, branches, and localities and the heads must take responsibility.

Since the beginning of 2025, the Government has organized 4 online conferences with ministries, agencies and localities; issued 08 Directives, Official Dispatches and many documents directing the promotion of public investment disbursement; the Prime Minister, Deputy Prime Ministers and Government members regularly and continuously conduct field inspections, focus on resolving difficulties and urging implementation.

The Government has submitted to the National Assembly to focus on amending relevant legal regulations to remove obstacles in public investment; including submitting to the National Assembly 3 times to approve regulations on separating site clearance into independent projects; promoting decentralization and comprehensive delegation of 12 contents to ministries and localities, converting the method of public investment management from "pre-inspection" to "post-inspection" with 3 main groups: Decentralization of authority to assign and adjust public investment plans; Decentralization of authority to decide on investment policies and investment decisions; Decentralization of authority to extend disbursement time and extend capital allocation time. At the same time, step up review, promptly detect and handle difficulties and obstacles in legal regulations with contents under the authority of the National Assembly according to Resolution No. 206/2025/QH15.

However, the disbursement of public investment capital is sometimes slow in some places, and generally does not meet requirements, as the National Assembly deputies have stated, due to many objective and subjective reasons. The scale of public investment capital in 2025 is about 900,000 billion VND, an increase of about 33% compared to 2024 (678,000 billion VND). The implementation capacity in some agencies and localities is still weak, not resolute, and lacks initiative; there is still a situation of pushing and avoiding responsibility (with the same legal basis, some places do well, some places do not). Meanwhile, although the Law on Public Investment has allowed the separation of site clearance into separate projects, there are still some difficulties in the implementation organization (no agreement has been reached with the people, slow handover of the site; determining the origin of land use is difficult; completing land recovery dossiers through many steps...).

According to the Deputy Prime Minister, taking into account the opinions of the National Assembly deputies, the Government focused on directing ministries, branches and localities to urgently overcome the above limitations and shortcomings, determined to strive to complete the disbursement rate of public investment capital in 2025 to reach the target of 100% of the plan assigned by the Prime Minister (about 5-6% higher than the average of previous years). Continue to review and perfect legal regulations; promote the activities of working groups; speed up the progress of site clearance, construction, remove difficulties and obstacles, improve the quality of preparation and implementation of investment and construction. Strictly implement the provisions of the Law on Amendments and Supplements to the Law on Public Investment; strictly handle cases affecting the disbursement of public investment capital; transfer officials, consider the responsibility of the head.

"In addition to the above issues, the Government will continue to direct ministries, branches and localities to research, absorb and fully explain issues of concern to delegates, and advise on solutions to successfully implement socio-economic development goals and state budget financial tasks in the new period," Deputy Prime Minister Le Thanh Long emphasized.

Source: https://baotintuc.vn/thoi-su/chinh-phu-de-cao-cac-giai-phap-thu-ngan-sach-nha-nuoc-dau-tu-cong-va-tra-no-cong-20251030164452084.htm