On the morning of 9 November 2026, the National Assembly passed the resolution on the 2027 state budget estimate with 471 votes in favour, or 94.2% of all deputies. It is the fiscal framework accompanying the 2027 socio-economic development plan the Assembly approved earlier, aiming to keep budget discipline while channelling resources to growth.
Headline figures
- Total state budget revenue: over VND3.334 quadrillion (over US$130.6 billion), including central budget revenue of nearly VND1.776 quadrillion and local budget revenue of nearly VND1.559 quadrillion.
- Total expenditure: almost VND4.074 quadrillion, including central budget spending of more than VND2.364 quadrillion and local spending of about VND1.709 quadrillion.
- Deficit: VND739.597 trillion, equivalent to 4.5% of GDP; total state budget borrowing of nearly VND1.28 quadrillion.
- Budget revenue in 2027 is expected to rise around 9.1% from the estimated 2026 outturn.
Spending discipline and public investment efficiency
According to VietnamPlus, the budget comes with a 5% cut in public investment spending and a 10% reduction in recurrent expenditure (excluding salaries and personnel-related costs). Salary reform reserves may be used for salary and allowance adjustments, pensions, social insurance, preferential policies and staff streamlining.
The new budget builds on stronger public investment disbursement in 2026: in the first ten months it reached 72.1% of plan, about VND720.5 trillion, 21 percentage points higher and VND229.4 trillion more than a year earlier.
Market implications
A clear budget framework gives construction, materials and infrastructure companies a firmer basis for 2027 planning, and signals the State's commitment to better spending quality. Trimming recurrent spending also frees resources for long-term development priorities.
Key takeaways
- The 2027 budget passed with 471 votes in favour (94.2%).
- Revenue above VND3.334 quadrillion, spending near VND4.074 quadrillion, deficit at 4.5% of GDP.
- Public investment disbursement reached 72.1% of plan in ten months of 2026, building momentum for 2027.