Budget

Sangkat O’Mal authority in Battambang City and several residents have highlighted the lack of availability for the use of the annual commune budget to develop infrastructure to meet the needs of the people. ...

The Royal Government of Cambodia has raised $58.26 million in funds through government bond issuance in 2023. As per current regulations, the country can raise bonds for up to $200 million. The current bond issuance takes up 29 percent of the limit. ...

Based on the preliminary results of the February 25 Senate election, released by the National Election Committee, the ruling Cambodian People’s Party (CPP) is expected to claim 55 of the 58 available seats.  ...

The National Committee for Sub-National Democratic Development (NCDD) has approved nearly $1.8 billion to develop sub-national administrations across the country. ...

Prime Minister Hun Manet said the state has saved over $200 million through the suspension of non-urgent research and case study projects. He has directed the funding towards more pressing target, such as the expansion of social protection and disaster relief. ...

From 2017 to the present, 190 municipal and district administrations across the country have implemented sub-national administrative investment funds (SNIF). This is according to Dr. Keo Bengvath, the Royal Government delegate in charge of the Director General of the General Department of Finance and Sub-National ...

The government has issued a new sub-decree to transfer funds for an additional five years to commune administrations for local development expenditures. The money will help to improve public services and local level development for the period between 2024 and 2028. ...

Prime Minister Hun Sen said that Cambodia’s annual public debt is below 20 percent of the total national budget, thanks to the implementation of the Public Financial Management Reform Program (PFMRP). ...

The Ministry of Economy and Finance on February 15 published a document establishing a series of internal goals, objectives, approaches and actions with a vision to 2030, to better align with the Royal Government of Cambodia’s (RGC) policies and strategies. ...

The Kingdom’s international reserves ended 2022 at $17.8 billion, equivalent to seven months of import cover, compared to $20.3 billion and 8.1 months at end-2021, which pundits affirm is still high for a developing country given the recent global financial crisis, signalling positive levels of ...

Minister of Information Khieu Kanharith instructed commune councils to inform the local population whenever restoration, development or construction work is undertaken by the commune authorities. ...

The Royal Government of Cambodia has collected 22,302 billion riels or $5.44 billion as the total national revenue in the first 11 months of 2022, while the total national expenditures reached 22,275 billion riels or $5.43 billion, resulting in 27 billion riels or $6.6 million ...

The Standing Committee of the National Assembly (NA) on September 19 approved the NA budget for 2023 of 171 billion riel ($43 million). ...

In the last three months, Cambodia paid $183 million in foreign debt, with total debt standing at $9.81 billion. However, authorities remain unconcerned, claiming funds are being funneled into investment and development. ...

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. ...