The Ministry of Finance proactively manages, ensures budget balance and promotes economic recovery.

The first quarter of 2025 recorded positive results in state budget revenue. Total revenue reached 721.3 trillion VND, equal to 36.7% of the annual estimate and increased by 29.3% over the same period last year.

Revenue growth - a solid fiscal foundation

According to the report of the Ministry of Finance: The first quarter of 2025 recorded positive results in state budget revenue. Total revenue reached 721.3 trillion VND, equal to 36.7% of the annual estimate and increased by 29.3% over the same period last year. In particular, domestic revenue - the main source of revenue - increased sharply by 34.5%, reaching 646.3 trillion VND.

Explaining the reason, the Ministry of Finance said that GDP growth by the end of 2024 reached 7.55%, creating momentum for the first months of 2025. At the same time, the Tax sector has promoted revenue management, digital transformation, anti-revenue loss and debt settlement.

Notably, revenue from the non-state sector increased by 36%, far exceeding other sectors. However, revenue from state-owned enterprises decreased by 7.6%, showing the need to continue reforming enterprises and improving production and business efficiency.

In addition, revenue from crude oil reached VND13.3 trillion, equivalent to 25% of the estimate but down 15.3% year-on-year. The main reason was that the average oil price in the first quarter was only 81 USD/barrel, down nearly 15% year-on-year.

Revenue from import-export activities was equivalent to the same period with more than 61.6 trillion VND, of which VAT refund reached more than 33 trillion VND.

Notably, as of April 15, 2025, total state budget revenue reached VND 801.9 trillion, equivalent to 40.77% of the annual estimate, showing that the positive trend is still continuing.

Disbursement of public investment is still slow

Not only focusing on revenue, the Ministry of Finance also ensures strict and effective budget expenditure. In the first quarter of 2025, total balanced expenditure reached VND 428.2 trillion, equivalent to 16.8% of the estimate and an increase of 11.6% over the same period. Development investment expenditure reached VND 78.7 trillion, equivalent to 10% of the estimate.

However, the disbursement rate of public investment capital remains low, only reaching 9.53%, much lower than the same period (12.27%). The Ministry of Finance is asking ministries, branches and localities to speed up progress, especially key projects and national target programs.

Regarding the 3 National Target Programs, allocated development investment capital reached 95.9% of the plan, however, disbursement only reached about 15.2%, showing that more drastic promotion is needed.

At the same time, price management is strictly controlled. Gasoline and rice prices often decrease, but pork prices increase due to lack of supply. Steel and cement prices remain stable. As the standing member of the Price Management Steering Committee, the Ministry of Finance has submitted to the Prime Minister a draft Directive to strengthen compliance with price laws, and at the same time, updated price management scenarios in accordance with market fluctuations.

In addition, a series of support policies have been implemented such as reducing VAT by 2%, reducing environmental protection tax on gasoline, and extending preferential registration fees for electric cars. Total support for businesses and people this year is estimated at VND204 trillion, higher than in 2024.

Regarding policy development, in the first quarter, the Ministry of Finance submitted 22 Decrees and 2 Decisions to the Government and the Prime Minister, and sent 8 draft laws and resolutions to the Ministry of Justice for submission to the National Assembly. In particular, it is completing 3 important draft laws on special consumption tax, corporate income tax and state capital management in enterprises.

The Ministry has also issued 18 circulars in the financial sector, and promptly implemented Action Plans to concretize major policies such as Resolution 57/NQ-TW, 01/NQ-CP...

Regarding public asset management, the work of arranging real estate, collecting land rent, and exempting and reducing fees and charges continues to be promoted. Regarding national reserves, the Ministry has issued more than 42,000 tons of rice, supporting Tet, crop failure, and students in disadvantaged areas.

In the financial market, stocks grew slightly, with the VN-Index reaching 1,306 points, capitalization equivalent to 64% of GDP. The average trading value in March reached VND22,741 billion/session, up 27.3%. However, the first quarter still decreased compared to the same period.

The bond market improved, with average transaction value increasing by 15.7% compared to the previous year. The insurance market grew steadily, with total revenue in the first quarter reaching VND56,575 billion.

In addition, the equitization and divestment of state-owned enterprises remains stagnant, as no enterprises have done so in the first quarter. The Ministry of Finance will have to speed up the equitization of 30 enterprises in the remaining 9 months of the year.

Along with that, the Ministry has received 18 Groups and Corporations to exercise the right to represent the owners and required enterprises to develop business scenarios to ensure a minimum growth of 8% compared to the previous year.

In the field of business registration, the number of new and re-entering enterprises increased sharply with more than 72,943 enterprises, however, the number of enterprises withdrawing from the market still reached 78,813 enterprises.

Regarding public debt management, the Government borrowed about VND105,007 billion domestically and internationally, and paid about VND118,170 billion in debt in the first quarter. Government bond issuance reached nearly VND98,500 billion, reaching nearly 20% of the annual plan.

Notably, the Ministry of Finance continues to promote administrative reform, with 993 administrative procedures under management, of which more than 28.2 million records were received in the first quarter. Regarding inspection work, more than 20,000 inspections were conducted, detecting violations with a total recommended amount of over VND 31,846 billion, collecting more than VND 4,700 billion for the state budget.

In the planning field, 98.2% of national, regional and provincial plans have been approved. Implementation is gradually showing effectiveness, opening up new development space.

According to the Ministry of Finance, total social investment capital in the first quarter reached VND666.5 trillion, up 8.3%. Foreign investment capital reached nearly USD11 billion, up sharply by 34.7% over the same period. Vietnam also invested nearly USD239 million abroad, 8.3 times higher than in the first quarter of 2024, mainly in the fields of electricity, processing and mining.

Mr. Minh

Source: https://baochinhphu.vn/bo-tai-chinh-chu-dong-dieu-hanh-dam-bao-can-doi-ngan-sach-va-thuc-day-phuc-hoi-kinh-te-10225042116190523.htm