Hanoi (VNA) – State budget revenue in 2026 is targeted at nearly 2.53 quadrillion VND (96.1 billion USD), with domestic sources remaining dominant, underscoring the increasingly close link between the fiscal policy and the health of the domestic economy and the need for solutions that both sustain revenue sources and support long-term growth.
2026 marks a pivotal year in the 2026–2030 period as major institutional and policy reforms begin to take effect, laying the foundation for a new growth phase amid ongoing global uncertainties and heightened requirements for the finance sector to uphold budget discipline, proactively steer growth, support production and business activities, and promote sustainable development.
Of the state budget revenue target for next year, domestic sources are expected to contribute almost 2.2 quadrillion VND, crude oil 43 trillion VND, foreign trade activities 278 trillion VND, and assistance sources 8.5 trillion VND.
A key priority in 2026 is ensuring sustainable budget revenue by broadening collection sources and minimising losses. To do that, the finance sector is set to refine policies to capture new sources from the digital economy, e-commerce, and cross-border platforms, while reviewing and alinging taxes with development realities and international practices.
In addition, revenue management will be strengthened through digital platforms and by enhancing data sharing and connectivity between tax and customs authorities and other ministries, agencies, and localities to improve monitoring, analyse risks, and combat transfer pricing, tax evasion, and trade fraud.
Alongside securing revenue sources, the 2026 fiscal policy will continue to provide tailored support for businesses and citizens, with flexible tax and fee exemptions, reductions, and deferrals designed to respond to domestic and global economic developments, ensuring measures reach the right recipients at the right scale to effectively ease business challenges.
Administrative reform in the finance sector is seen as a continuous measure to reduce compliance costs and improve the business and investment environment, thereby nurturing and expanding budget revenue sources in the medium and long term.
In addition, the sector will focus on mobilising resources for development, with amendments to the Law on the State Budget, and the Law on Management and Investment of State Capital in Enterprises expected to provide a coherent and transparent legal framework for managing, allocating, and using public financial resources. Meanwhile, specialised legal frameworks and preferential policies for the digital, green, and circular economies, financial centres, and free trade zones will continue to be developed to open new growth avenues for the economy.
For budget spending, improving public expenditure efficiency remains a consistent requirement in financial management for 2026. Budget spending restructuring will be linked with power decentralisation, with central agencies steering major balances and localities acting proactively and responsibly under the principle “localities decide, implement, and take responsibility.”
The state budget will be prioritised for development investment, especially in strategic, interregional, digital, energy, and green transition infrastructure, while ensuring funding for education, healt hcare, law making, science and technology, innovation, and digital transformation, as well as wage reforms and social policies.
Proactive, safe, and sustainable management of the budget deficit and public debt is another key pillar of the 2026 fiscal policy. Borrowings that cover the deficit will continue to be used solely for development investment. Besides, ensuring timely debt repayment without affecting the country’s credit rating is another task. Government bond issuance will be conducted flexibly, aligned with the economy’s absorption capacity and closely linked to budget and debt management to reduce borrowing costs and expand fiscal policy space.
According to Deputy Minister of Finance Do Thanh Trung, the 2026 fiscal policy should continue to drive long-term growth through proactive, sustainable, and targeted measures. The focus will be on restructuring budget spending to increase development investment, particularly in strategic, digital, energy, and green transition infrastructure, while developing the capital market as a key channel for mobilising medium- and long-term funding, thus gradually reducing reliance on bank credit.
Economists said that for the 2026 fiscal policy directions to be effectively implemented, perfecting the legal framework and developing financial markets in a coordinated manner will be crucial to unlocking resources for growth.
Finance Minister Nguyen Van Thang affirmed that the finance sector will continue to promote strong reforms to build an efficient and transparent policy system that pioneers changes toward a modern, fair, and inclusive national financial system./.
