Of the figure, VND367.9 trillion (USD16 billion) would be used to subsidise local budgets.
The National Assembly also agreed on a trade deficit of VND234 trillion (USD10.2 billion) for 2020, accounting for around 3.44% of the national GDP in the year.
Localities nationwide are urged to allocate the state budget to prioritised areas.
Earlier, the National Assembly set a GDP growth target of 6.8% and CPI growth of below 4% next year.
State budget revenues are expected to reach VND1.31 quadrillion (USD58.3 billion) this year. Meanwhile, total state budget expenditure for the year would reach VND1.52 quadrillion.
