Vietnam adjusts financial strategy ahead of 2030

The Vietnamese government has revised its financial strategy ahead of 2030, raising the state budget revenue mobilisation target for the 2026-2030 period, local daily Nhan Dan reported on Thursday (25/6). Under the revised strategy, state budget revenue mobilisation is targeted to reach approximately 18 per cent of gross domestic product (GDP), up from the previous 16 to 17 per cent. The strategy also raises the target share of domestic revenue in total state budget revenue from 86-87 per cent to 87-88 per cent. The budget expenditure structure has been outlined in greater detail in the strategy, with development investment spending set to account for around 40 per cent of total state budget expenditure, while recurrent spending is estimated to reach about 51 to 52 per cent, according to the report.