Setting the Goal for 2026 State Budget Revenue to Exceed 2025

On December 1, Mr. Truong Quoc Huy – Secretary of the Provincial Party Committee – chaired a meeting of the Provincial Party Committee Standing Board to hear the report regarding the socio-economic development performance in 2025 and various issues under its authority.

Provincial Party Committee Secretary Truong Quoc Huy chairs the conference.

At the conference, the Provincial Party Committee Standing Board heard the report from the Provincial People’s Committee (PPC) Party Committee assessing the socio-economic development performance in 2025 and outlining the orientation and tasks for 2026. According to the report, the province’s economy experienced fair growth, with each succeeding quarter showing higher growth than the preceding one. The estimated annual growth is 10.3% compared to 2024, achieving the provincial target, exceeding the target assigned by the Government, and being the highest among the Northern Midlands and Mountainous Provinces.

The scale of GRDP (Gross Regional Domestic Product) at current prices is estimated to reach 409.6 trillion VND, increasing 53.2 trillion VND compared to 2024. The GRDP per capita reached 110.7 million VND, a 13.8% increase compared to 2024. The economic structure continued to shift towards increasing the proportion of the industrial and service sectors and decreasing the proportion of the agriculture, forestry, and fishery sector. The industrial - construction sector is estimated to account for 54.6%; the service sector for approximately 32.5%; and the agriculture, forestry, and fishery sector for approximately 12.9%.

Subsequently, the Provincial Party Committee Standing Board heard the PPC Party Committee report on the Phu Tho Provincial State Financial Report for 2024; the report on the implementation of the 2025 State Budget Estimate, the 2026 Budget Estimate; the 3-year State Financial - Budget Plan (2026-2028), and the financial plan for the 2026-2030 period. They also heard the report on the situation and results of the implementation of the 2025 public investment plan and national target programs; and the 2026 public investment plan...

Concluding the conference, Provincial Party Committee Secretary Truong Quoc Huy concurred with the contents reported by the PPC Party Committee. The Provincial Party Committee Secretary clearly stated: The total budget revenue for 2026 must be higher than 2025 because the province’s development space is broader after consolidation; the potential for investment attraction is higher, and the province has many mechanisms and policies to attract businesses.

Regarding the decentralization of revenue sources, expenditure tasks, and the percentage split of revenue between the provincial and communal budgets, the principle will be that communes with higher budget revenue will receive a larger allocated source, without exceeding the prescribed limits. Concurrently, a balance will be ensured so that revenue collected from land use fees will be re-allocated to support local investment in infrastructure directly serving the essential needs of the people’s living and production activities.

The Provincial Party Committee Secretary also requested the PPC to promptly issue regulations on 1:500 scale land use planning to enable the collection of land use fees early in 2026, adding to the budget revenue source immediately.

For the project proposal on the Comprehensive Research, Survey, and Assessment of the functions and tasks of the Đai Lai Reservoir for multi-purpose use, the Provincial Party Committee Secretary requested that agencies finalize the project and submit it to the Provincial Party Committee Executive Board for approval before December 15, and continue to complete all procedures to report to the Ministry of Agriculture and Environment before February 1.

For other remaining issues, the Provincial Party Committee Secretary requested that the Provincial Party Committee Standing Board continue to research and contribute opinions at the next meeting of the Provincial Party Standing Committee.

Phan Cuong