Vietnam spends 18% of its budget on education
Over the 10 years from 2011 to 2020, the level of investment in education tends to steadily increase, reaching more than 18% of the total state budget expenditures, which is equivalent to 4.9% of GDP, which is higher than in many countries in the region.
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According to the 2019 Education Law, the state budget plays a leading role in the overall investment resources for education. The state budget must spend at least 20% of the total expenditure on education and training.
At the conference for the Vietnam Education Industry Analysis Report 2011-2020, Prof. Le Anh Vinh, director of the Vietnam Institute of Education Sciences, said that the level of investment in education tends to increase steadily every year. period 2011-2020, on average about 17-18%, in some years almost 19%. Compared to the United States (13%), Indonesia (17.5%), Singapore (19.9%) and many other countries, Vietnam's state budget spending on education is not low.
As a percentage of GDP (gross domestic product), Vietnam's spending on education is equivalent to 4.9% of GDP, just 5% less than Malaysia and higher than other ASEAN countries including Cambodia at 1.9%, Singapore 2.9%, Laos 3.3%.