Hanoi (VNA) – The National Assembly (NA) on November 9 adopted a resolution on the allocation of the 2027 central budget, with all 469 deputies present voting in favour.
Under the resolution, total central budget revenue in 2027 is estimated at more than 1.7 quadrillion VND (66.62 billion USD), while total expenditure is projected at over 2.3 quadrillion VND.
Of the expenditure, more than 408 trillion VND will be allocated to supplement the budget balances of localities, while over 311 trillion VND will be provided as targeted transfers to local budgets.
The resolution sets out specific provisions on central budget allocations, balancing transfers and targeted transfers from the central budget to local budgets, as well as local government borrowing limits to cover budget deficits and repay principal debt.
It also stipulates funding arrangements for salary policies and additional income for certain agencies and units; the allocation of revenue from administrative fines for road traffic order and safety violations, as well as road-use fees collected through motor vehicles, to support road traffic safety and order, and road management and maintenance.|
Notably, the NA will earmark 30 trillion VND as a contingency reserve to safeguard national financial security in the event of socio-economic fluctuations or state budget revenue falling short of estimates.
The Government is tasked with proactively managing this reserve to minimise the impact on expenditure commitments already approved in the budget and ensure national financial safety.
The legislature also talks the Government with organising the allocation of the state budget and assigning revenue and expenditure targets, as well as central budget allocations to each ministry, central agency and locality, in accordance with regulations.
It also directs ministries, central agencies and localities to allocate state budget investment capital in a focused and prioritised manner, ensuring compliance with the conditions and order of priority set out in the Law on State Budget, the Law on Public Investment, and resolutions of the National Assembly and its Standing Committee.
Priority must be given to ensuring sufficient funding, in accordance with approved schedules, for special and urgent public investment projects, national target programmes and nationally important projects. Funding must also be arranged to repay any advance capital, complete projects that have been handed over but have yet to receive sufficient funding, and implement programmes and projects using official development assistance (ODA) and foreign concessional loans, including counterpart funds.
The allocation must also cover the State's capital contributions to public-private partnership (PPP) projects, ongoing projects carried forward into the 2026–2030 period, investment preparation and planning tasks, and outstanding basic construction debts in accordance with the law.
Other priorities include interest-rate subsidies for preferential credit programmes, management fees, charter capital for policy banks and off-budget State financial funds, as well as investment support for other beneficiaries as decided by the Government or Prime Minister.
The Government will also require ministries, central agencies and localities to review their 2027 public investment plans after receiving allocations, ensuring that detailed funding arrangements for programmes, tasks and projects are consistent with the 2026–2030 medium-term public investment plan approved by the Prime Minister and comply with relevant regulations./.
VNA
