Vietnam's National Assembly Endorses Five-Year Financial Reform Agenda

Post by : Shakul

The National Assembly of Vietnam has granted its official approval for a sweeping five-year financial reform plan, spanning from 2026 to 2030, complemented by a comprehensive framework for managing public debt. This resolution was passed during the final session on April 24, 2026.

The initiative seeks to establish a financial system that is efficient, transparent, and sustainable. Key objectives include the implementation of proactive fiscal policies that work in harmony with monetary policies to foster stable economic growth.

Officials aim to optimize both domestic and foreign resources to fulfill developmental objectives while adhering to strict financial protocols. A significant aspect of the plan includes the restructuring of the state budget, elevating the central budget's authority, and granting greater autonomy to local budgets.

The total projected state budget revenue from 2026 to 2030 is estimated at approximately VND 16.4 million billion, while the expected total expenditure hovers around VND 21.2 million billion. The government aims to keep the average budget deficit around 5 percent of GDP, ensuring public debt remains manageable.

Total government borrowing during this period is expected to be about VND 6,497 trillion, primarily funded through the central budget. Concurrently, stringent measures will be employed to meet debt repayment obligations and uphold long-term financial health.

Moreover, the plan underscores the necessity for enhancing tax policies, diversifying revenue streams, and boosting transparency in financial administration. Particular emphasis will be given to revenues from land, natural resources, e-commerce, and digital initiatives.

The government will continue to advance economic reforms, improve the synergy between fiscal and monetary policies, and bolster the financial system's resilience against both domestic and international pressures. Authorities are mandated to ensure thorough implementation and regular monitoring of the plan at all governance levels.