On October 22, continuing the 8th Session of the 15th National Assembly, Deputy Prime Minister and Minister of Finance Ho Duc Phoc reported on the implementation of the state budget in 2024, the state budget estimate, the central budget allocation plan in 2025, and the 3-year state budget - finance plan for 2025-2027.
Arrange enough to pay public sector salaries and pensions
According to the report, the total budget revenue estimate for 2024 is 1.7 million billion VND, and the whole year's estimated implementation is 1.87 million billion VND, exceeding 172,300 billion VND, up 10.1% compared to the estimate. Most budget revenue areas reached and exceeded the estimate. Including domestic revenue of 1.57 million billion VND, exceeding 8.9%; crude oil revenue of 59,300 billion VND, exceeding 28.9%; revenue from import-export activities of 235,200 billion VND, exceeding 15.3%...
Regarding budget expenditure, the annual estimate is 2.1 quadrillion VND, the whole year estimate is 2.28 quadrillion VND, an increase of 7.7%. The deficit estimate is 399,400 billion VND, the whole year estimate is 389,400 billion VND, a decrease of 10,000 billion VND. In 2025, the estimated allocated state revenue is 1.96 quadrillion VND, an increase of 15.6% compared to 2024. Of which, the estimated domestic revenue is 1.67 quadrillion VND, an increase of 6.1%. The above estimate is assessed positively in the context of potential risks and challenges. The budget deficit estimate is 471,500 billion VND, equivalent to 3.8% of GDP. By the end of 2025, the public debt ratio will be 36-37% of GDP, and the government debt will be 34-35% of GDP, within the scope allowed by the National Assembly.
Regarding the allocation plan, Deputy Prime Minister and Minister of Finance Ho Duc Phoc said that the principle of prioritizing the arrangement of increased development investment spending at a positive level will be ensured. Debts will be fully paid on time, and national reserves will be reasonable to handle urgent and arising matters.
At the same time, arrange enough to pay salaries for the public sector, pensions, social allowances, preferential allowances for people with meritorious services, and pay social security. Arrange regular expenditures, thoroughly save, prioritize national security and defense, and organize activities such as organizing Party congresses at all levels. To ensure salary payments for the public sector, in addition to the balanced capital from the budget, it is expected to use 110,000 billion VND from the accumulated salary source. Accordingly, the budget expenditure estimate is 2.55 million billion VND. The budget allocation for development investment expenditure is 790,700 billion VND, accounting for 31.4%.
According to Deputy Prime Minister and Minister of Finance Ho Duc Phoc, in addition to saving 10% of expenditure to ensure salary reform, it is proposed to strive for a 10% increase in regular expenditure in 2025 compared to 2024 to reduce budget deficit, increase expenditure on necessary, arising or additional tasks.
Cut down on expenses that are not really necessary or urgent.
Regarding the 3-year state budget financial plan for 2025-2027, Deputy Prime Minister and Minister of Finance Ho Duc Phoc said that the budget will continue to be restructured towards prioritizing development investment spending, ensuring spending on defense tasks, socio-economic security, public sector salaries, and social security policies.
Accordingly, the Deputy Prime Minister proposed that in 2025, no consideration should be given to increasing pensions, public sector salaries, and preferential allowances for meritorious people. In its management, the Government will review and report to competent authorities on unreasonable handling of certain subjects and sectors such as health and education.
At the same time, expand the scope of using accumulated resources for salary reform, adjust pension policies, subsidies, social security, and streamline payroll. Allow localities with large salary reform resources to use them to invest in regional and national connectivity projects and key national projects in cases where the locality commits to ensuring salary reform resources until 2030 and does not request support from the central budget.
In addition, it is proposed that the National Assembly consider and allow the use of a portion of the remaining salary accumulation fund of the central and local budgets, and incorporate it into the 2025 budget report to allocate enough basic salary of VND 2.34 million per month for ministries, branches, central and local agencies.
Examining the implementation of the State budget, the National Assembly's Finance and Budget Committee basically agreed with the Government's plan submitted to the National Assembly; at the same time, it requested ministries, branches and localities to continue to thoroughly save regular expenditures, review, arrange and cut expenditures that are not really necessary or urgent; and not consider increasing pensions and public sector salaries in 2025.
Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh noted that budget expenditure management needs to be strict within the budget estimate and budget collection capacity to ensure effective capital use and avoid loss and waste.
Source: https://kinhtedothi.vn/de-xuat-chua-xem-xet-tang-luong-huu-luong-khu-vuc-cong-trong-nam-2025.html
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