Budget

The government is on track to spend more than $2.127 billion or about three-fifths of Cambodia’s state savings of $3.5 billion over the 2020-2022 period to manage the impact of the Covid-19 crisis on key sectors, according to Ministry of Economy and Finance secretary of ...

Cambodia and France recently signed a Memorandum of Understanding (MoU) on the implementation of the second phase of the Budget and Accounting Support Project. ...

The government today approved a draft budget of $7,993 million for its expenditure next year, an increase of 6.8 percent compared to this year. ...

Cambodia’s commitment to reform public financial management through a financial management information system (FMIS) is on the right track. ...

Sweden and the EU on May 11 provided $1.5 million for a two-year project spanning 2021-2022 to support the Parliamentary Centre of Asia’s (PCAsia) Cambodian activities. The agreement was signed virtually on May 11. ...

The Asia Foundation and Silaka with support from the New Zealand Ministry of Foreign Affairs and Trade this week launched a three-year project to promote the transparent and accountable management of local funds in Cambodia. ...

Prime Minister Hun Sen on Tuesday issued a sub-decree on steps to reduce government spending for domestic and foreign missions for national and sub-national administrations due to COVID-19. It set the rules and procedures for implementation of the expense budget for civil servant missions to ...

The government has announced it will make good use of future “oil money” by directing some of it to the promotion of digital education designed to meet the domestic demand for technical and skilled personnel. ...

The Cambodian government has revised its target for year-on-year fiscal revenue growth to 0.3 percent of gross domestic product (GDP), down from the planned 0.5 percent increases as outlined in the original Revenue Mobilisation Strategy 2019-2023. ...

The Royal Government of Cambodia, through the Council of Ministers, has approved a draft annual budget of approximately $7.62 billion for the year 2021. The approval was made during a cabinet meeting held last Friday, chaired by Prime Minister Hun Sen. ...

Cambodia’s legal and policy framework provides little opportunity for citizens and civil society organisations to have a say in public financial management at the national level, said a study by NGO Forum which was released on Tuesday. ...

The Office of the Council of Ministers has approved the draft law on Control, Use and Management of the State Assets, which aims to ensure that state assets are preserved for the common interests of the country and the people. The Ministry of Economy and ...

The triannual “Publish What You Fund” international aid transparency index was released on Wednesday, ranking several prominent Cambodian development donors and stating that overall transparency is improving. ...

PRIME Minister Hun Sen yesterday stated that the Kingdom has brought the budget into balance, with current savings standing at $3.5 billion. The statement was made in response to doubts about whether or not Cambodia is telling the truth when claiming to have up to ...

The Kingdom’s non-garment industry is predicted to remain healthy next year, supported by the agriculture and services sector, according to the government’s national strategic budget plan 2021-2023. ...

Amid the outbreak of the coronavirus the government plans to trim the 2021 state budget to around $4 billion, accounting for about a 50 percent drop from this year’s state budget, including an 11.3 percent drop for social affairs and 6.4 percent for general administration. ...

An undisclosed amount of money from the national budget will be used to purchase uniforms and insignias for 49 members of the Supreme Council for Consultation, the government said on Monday. The officials will don the uniforms during major local and international events. In November last ...

A reduction in red tape saw Ministry of Commerce revenue decline 50 per cent last year compared to 2018, its annual report revealed. However, it said the bureaucratic reforms would boost the Kingdom’s competitiveness. The report showed that the government had eliminated some export procedures ...

The government will spend more than $8 billion and take out $2 billion in foreign loans this year, according to the 2020 National Budget Law, which was made public on Tuesday after being signed off by King Norodom Sihamoni. The government will spend some $8.196 ...

Minister of Interior Sar Kheng announced on Tuesday that the budgets for sub-national administrations next year will be paid via the bank to prevent corruption and ensure transparency. He also warned officials not to abuse power for personal gain. Sar Kheng was speaking at the ...