Post by : Shakul
Vietnam’s National Assembly has formally sanctioned a substantial five-year financial strategy for the period spanning 2026 to 2030, complete with a clear framework for managing public debt. This pivotal resolution was passed during the assembly's closing session on April 24, 2026.
The overarching goal of this plan is to cultivate a financial system that is efficient, transparent, and sustainable. It underscores the necessity of a proactive fiscal approach, complementing monetary policy to achieve consistent and balanced economic advancement.
Officials are determined to leverage both domestic and international resources to fuel development initiatives while upholding stringent financial discipline. The strategy also involves reforming the state budget, reinforcing the central budget’s leadership role, and enhancing the autonomy of local budgets.
As per the resolution, the forecast for total state budget revenues during the 2026–2030 period is set at around VND 16.4 million billion, with total expenditures anticipated to be around VND 21.2 million billion. The government aims to sustain a budget deficit averaging approximately 5 percent of GDP, ensuring that public debt stays within manageable bounds.
Total borrowing by the government during this timeframe is projected to be around VND 6,497 trillion, with a considerable portion being negotiated through the central budget. To ensure long-term financial stability, stringent measures will be enforced to manage repayment obligations effectively.
The plan also emphasizes enhancing tax frameworks, diversifying revenue sources, and boosting transparency and accountability in financial governance. Notably, it will focus on revenue streams from land, natural resources, e-commerce, and digital infrastructures.
Furthermore, the government is committed to advancing economic reforms, fostering closer coordination between fiscal and monetary strategies, and reinforcing the financial system's resilience to both global and domestic challenges. Authorities have been tasked with ensuring the effective execution and diligent oversight of this plan at all administrative levels.
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