According to Report No. 776/BC-CP submitted to the National Assembly Standing Committee, the government anticipates that the public debt-to-GDP ratio by the end of 2025 will reach approximately 36-37%. This slight increase comes as the nation strives to enhance budget mobilization, control recurrent expenditures, and prioritize development investments.
The report highlights that during the 2021-2025 period, the total state budget revenue is estimated at around 9.5 quadrillion VND, surpassing the National Assembly-approved target of 8.3 quadrillion VND. Budget mobilization currently stands at over 18% of GDP, with taxes and fees accounting for more than 14% of GDP, aligning with the guidelines of Resolution No. 23/2021/QH15 on national finance.
Meanwhile, total state budget expenditures for the 2021-2025 period are projected at approximately 10.5 quadrillion VND, nearly meeting the target of 10.26 quadrillion VND. Development investment spending has been prioritized, increasing from 28.3% in 2021 to an estimated 31% by 2025. The total state budget allocated for development investment over the five years is around 3.4 quadrillion VND, exceeding the previously set target of 2.87 quadrillion VND.
To secure funding for public investment and development, the government continues its plan to reduce recurrent expenditures to below 60% of total state budget expenditures, allocating more resources to development programs. The average budget deficit for the 2021-2025 period is maintained at 3.1-3.2% of GDP, down from the 2016-2020 average of 3.45% of GDP. This deficit level remains within the National Assembly-approved limit of 3.7% of GDP.
The report clarifies that public debt has decreased from approximately 42.7% of GDP in 2021 to nearly 34% of GDP in 2024. By the end of 2025, public debt is expected to range between 36-37% of GDP. These debt metrics fall within the safety thresholds established by the Vietnamese National Assembly under the current legal framework. The government pledges to continue implementing measures to restructure the debt portfolio sustainably, enhance the efficiency of borrowed capital, and ensure macroeconomic stability.
Prime Minister Outlines Three Key Strategies to Enhance the Role of the Private Sector
On the afternoon of September 16th, in Hanoi, Prime Minister Pham Minh Chinh attended the High-Level Dialogue Session of the Vietnam Private Economic Forum 2025, themed “Unlocking Potential – Shaping Vietnam’s Future.”
Enhancing Internal Control, Audit, and Inspection in Credit Institutions
To ensure the safety, sustainability, and legal compliance of the financial system, the State Bank of Vietnam (SBV) regularly issues notifications and warnings to credit institutions through its supervisory, inspection, and monitoring activities. These communications emphasize strict adherence to legal regulations, SBV guidelines, and directives from relevant authorities.
Prime Minister: Ensuring 100% Disbursement of Public Investment Capital
On the morning of September 17th, Prime Minister Pham Minh Chinh and Deputy Prime Ministers chaired the 3rd National Conference on Accelerating Public Investment for 2025. The Prime Minister mandated the full disbursement of 100% of the 2025 public investment capital, emphasizing improved investment quality and zero tolerance for corruption, negativity, or waste. Public investment is to be leveraged as a key driver for growth, job creation, sustainable livelihoods, and enhanced living standards for the people.
Prime Minister Requests IMF to Continue Policy Advisory and Risk Warnings for Vietnam
Prime Minister requests the IMF to further strengthen cooperation, technical assistance, and human resource training for Vietnam, while implementing programs to support Vietnam’s adaptation to new international economic conditions.
Prime Minister Directs Policies on Gold Market and Pilot Cryptocurrency Asset Market
The Prime Minister has mandated the development of the gold market in accordance with Decree 232, issued by the Government on August 26, 2025.
