Vietnam’s National Assembly Approves 2027 Central Budget Allocation

Vietnam’s National Assembly voted on November 9 to approve the 2027 central budget allocation resolution. All 469 lawmakers present voted in favor. The resolution projects central budget revenue of more than VND 1.775 quadrillion and spending of more than VND 2.364 quadrillion in 2027.

Vietnam’s National Assembly votes to approve the 2027 central budget allocation resolution.（VietVance）

The spending plan includes more than VND 408.7 trillion in funds to balance local budgets and over VND 311 trillion in targeted transfers; more than VND 757 trillion for development investment and nearly VND 981 trillion in recurrent spending, including salary reform. A further VND 30 trillion is set aside as a reserve to address changes in economic and social conditions or a shortfall in state budget revenue.

Vietnamese Minister of Justice Hoàng Thanh Tùng said in his explanation of the draft resolution that projected state budget revenue for 2027 is about 9.1% higher than in 2026. The projection does not include new revenue policies that would increase the burden on businesses and taxpayers. Given the uncertainty of land use fee revenue due to market conditions, the draft resolution stipulates that the pace of related projects should match the pace of actual revenue collection.

Vietnamese Minister of Justice Hoàng Thanh Tùng explains the draft resolution on the 2027 central budget allocation.（VietVance）

Hoàng Thanh Tùng also said that a total of VND 104.4 trillion was available for science, technology, innovation and digital transformation in 2026, including VND 9.4 trillion carried over from 2025. At the time of his explanation, the disbursement rate for allocated funds was only 42.4%, excluding disbursements in the defense and security sectors. The government will review the relevant 2027 spending allocations and study measures including simplified procedures for using the funds.

Source: VietVance