The 2024 Budget Revenue Reaches a Record High of Over VND 2 Quadrillion

National Assembly Chairman Tran Thanh Man announced during a group discussion on the morning of May 23rd, providing additional evaluation of the implementation of the socio-economic development plan and the state budget for 2024, as well as the execution of the socio-economic development plan and state budget in the first months of 2025.

Chairman of the National Assembly reported that the supplementary assessment of socio-economic performance in 2024 revealed that, for the first time in over a decade, Vietnam attained and surpassed all 15 targets, with a growth rate of approximately 7.09%. This growth rate is considered high within the region and on a global scale.

“The most remarkable achievement was the state budget surplus of VND 342.7 trillion (20.1%). The historical state budget revenue in 2024 exceeded VND 2,000 trillion, the highest level ever,” Mr. Tran Thanh Man emphasized.

The beginning of 2025 has also witnessed highly positive outcomes. Macroeconomic stability has been maintained, inflation has been effectively controlled, credit growth has been positive, and state budget revenue for the first four months reached over VND 944 trillion (48% of the estimate). The Government and the Vietnam Fatherland Front are determined to complete the elimination of temporary, leaky, and thatched houses by October…

According to the National Assembly Chairman, these achievements demonstrate the development of Vietnam’s economy, economic growth, maintained macroeconomic stability, and ensured social welfare.

Alongside these accomplishments, the National Assembly Chairman also drew attention to certain limitations with subjective causes. He cautioned against complacency in the remaining months of 2025 due to the complex global situation, escalating trade tensions, and protectionist policies from major economies, which pose risks to Vietnam’s exports and foreign investment attraction. These developments call for agility in trade strategies and international negotiations.

National Assembly Chairman Tran Thanh Man instructed focusing on addressing subjective limitations, such as the slow disbursement of public investment and weak consumer demand in certain sectors.

Currently, Vietnam’s total economic output stands at US$476.4 billion, with a per capita income of approximately US$4,700. However, the Chairman pointed out that compared to other countries, Vietnam’s per capita income remains low.

“The biggest bottleneck we face is institutional reform. The second is human resource quality. And the third is investment in infrastructure,” the National Assembly Chairman asserted.

He expressed his strong agreement with the National Assembly deputies’ proposal to continuously strengthen and improve social welfare, with a particular focus on addressing employment issues, including those affected by the streamlining of public sector organizations transitioning to the private sector.

In the final months of the year, the National Assembly Chairman suggested paying close attention to climate change response and preparedness for natural disasters such as storms and floods…

“The National Assembly will always stand alongside the Government under the leadership of the Party, continuing to vigorously reform institutions and laws to meet requirements and effectively support the economy. We will strive to remove obstacles and create favorable conditions for the development of the economy and society,” the National Assembly Chairman emphasized.