State budget revenue rises 15.4% in first five months
Vietnam's state budget revenue in the first five months of 2026 was estimated at 1.341 quadrillion dong, equal to 53% of the full-year target and up 15.4% year-on-year.
According to a report released by the Ministry of Finance on June 3, state budget revenue in May was estimated at nearly 216.3 trillion dong, or 8.6% of the annual target.
State budget revenue in the first five months of 2026 was estimated at 1.341 quadrillion dong, reaching 53% of the annual target and rising 15.4% year-on-year. In the same period of 2025, revenue reached 59.1% of the annual target and was up 26.9% from a year earlier.
Domestic revenue was estimated at 1.168 quadrillion dong in the January-May period, reaching 53.1% of the annual target and rising 15.8% year-on-year. In the same period of 2025, domestic revenue reached 60.5% of the target and increased 30.4% from a year earlier.
The ministry said tax and customs authorities continued implementing tax and fee deduction measures in May to support businesses and households, ease difficulties in production and business activities, and promote socio-economic development.
The measures included newly introduced cuts to environmental protection tax, value-added tax and special consumption tax on gasoline, oil products and aviation fuel under Prime Ministerial Decision No. 482/QD-TTg dated March 26, 2026, and National Assembly Resolution No. 19/2026/QH16 dated April 12, 2026.
The total value of tax and fee reductions granted in the first five months of the year was estimated at about 72.8 trillion dong.
State budget expenditure in May was estimated at 186.6 trillion dong, bringing total spending in the first five months to about 845.4 trillion dong, equal to 26.8% of the annual target and up 3.3% from the same period last year.
The ministry said budget spending in the first five months met demand for socio-economic development, national defense and security, state administration and debt servicing, while ensuring timely payment of salaries, pensions and social welfare benefits.
The central budget contingency fund allocated 5.605 trillion dong to ministries, central agencies and local authorities to address the impact of natural disasters and disease outbreaks and to handle urgent and unforeseen tasks in accordance with regulations.
The government also released 15,709 tons of rice from national reserves under decisions by the prime minister to provide food assistance during the Lunar New Year holiday and the pre-harvest period.
The Ministry of Finance said both the central budget and local government budgets remained balanced.
Hai Phong News