Vietnam’s National Assembly Passes 2027 State Budget Resolution

Vietnam’s National Assembly passed the 2027 state budget resolution on November 9, with all 471 lawmakers present and voting in favor. The resolution sets 2027 state budget revenue at VND 3,334.338 trillion, including VND 1,775.593 trillion in central budget revenue and VND 1,558.745 trillion in local budget revenue; expenditure is set at VND 4,073.935 trillion.

All 471 Vietnamese National Assembly deputies present voted in favor of the 2027 state budget resolution.（VietVance）

The resolution sets the 2027 state budget deficit at VND 739.597 trillion, equivalent to 4.5% of GDP. The central budget deficit is VND 588.818 trillion and the local budget deficit is VND 150.779 trillion, equivalent to 3.6% and 0.9% of GDP, respectively. Total state budget borrowing is set at VND 1,279.717 trillion.

At the budget allocation stage, the resolution requires savings of 5% in public investment spending to provide additional funding for key and urgent projects, and 10% in recurrent spending to increase funding for social welfare. The latter excludes savings earmarked for salary reform, salaries and related expenses, and other personnel spending. Local budgets may prioritize savings from public investment spending for key and urgent local projects.

On revenue, the National Assembly has asked the government to aim for an approximately 9.1% increase in 2027 state budget revenue over actual revenue in 2026. It also called for stronger action against revenue losses, transfer pricing and tax evasion, the recovery of tax arrears, and a broader tax base, with particular attention to revenue from e-commerce, business on digital platforms, and the exploitation of natural resources and minerals.

The resolution also provides for salary reform spending in 2027 and expands the permitted uses of accumulated central budget funds for salary reform, including adjustments to pensions and social insurance benefits. On public investment, the government must advance its 2026–2030 medium-term plan and prioritize funding for projects already under way. Funds from projects behind schedule may be reallocated to projects that can be implemented and disbursed but lack sufficient funding.

Source: VietVance