PROPORTION OF DOMESTIC REVENUE COMPARED TO TOTAL STATE BUDGET REVENUE WILL BE ABOUT 87% BY 2030
The Decision No. 368/QD-TTg approving the Financial Strategy until 2030 is issued on March 21, 2022 by the Prime Minister.
Accordingly, the Strategy includes the following specific objectives: The rate of State budget revenue in the 2021 - 2025 period shall not be lower than 16% of the GDP on average and about 16-17% of the GDP in the 2026 - 2030 period, in which, the rate of revenue from taxes and fees shall be about 13 - 14% of the GDP in the 2021 - 2025 period and 14 - 15% of the GDP in the 2026 - 2030 period; The proportion of domestic revenue compared to the total State budget revenue shall be about 85 - 86% by 2025 and about 86 - 87% by 2030; To strive to increase revenue, decrease expenditure, reduce State budget deficit so as to achieve the deficit target in the National Financial Plan, and borrow and repay public debt in the five years from 2021 to 2025 by about 3.7% of the GDP on average; and about 3% of the GDP by 2030, etc.
To achieve the above objectives, it is necessary to improve the policy on mobilizing national financial resources, improve the effectiveness and efficiency of State budget revenue management; closely and effectively manage the State budget deficit and public debt, improve fiscal space; improve mechanisms and policies for public non-business units; promote socialization of public service delivery; accelerate the debt settlement, divestment, and equitization of State-owned enterprises in an efficient, public and transparent manner.
This Decision takes effect on the signing date.
