Budget

The 2017 national budget, with more than $5 billion in expenditures, was passed by the Senate yesterday without any changes despite opposition from the CNRP. Expenditures in the 2017 budget are up 15.6 percent compared with 2016 and include more than $1 billion in foreign loans. ...

Members of the ruling Cambodian People’s Party voted in the National Assembly yesterday to back a 2017 national budget that outlines spending of $5 billion, but opposition Cambodia National Rescue Party (CNRP) members refused to give it their support. ...

Several civil society groups yesterday issued a joint statement urging members of parliament to review the national budget which is set to allocate close to 35 percent of national spending solely to the Defense Ministry and a contingency reserve. ...

The National Budget 2017 was approved on Friday by the Council of Ministers, with a government expenditure of about $5.04 billion. This represents an increase of about 15.6 percent compared to the 2016 budget of $4.36 billion, according to a government statement. ...

The government plans to increase the 2017 national budget by 15.7 percent, to more than $5 billion – representing an increase over this year’s government expenditure of more than $4.3 billion – a government source said yesterday. ...

Cambodia’s national debt stood at $5.7 billion as of the end of June, totalling about a third of GDP, according to a report on the national budget submitted to the National Assembly yesterday. ...

The Ministry of Economy and Finance finished month-long consultations with key ministries on Thursday in preparation for the drafting of Cambodia’s budget for 2017. ...

Listed utility Phnom Penh Water Supply Authority (PPWSA) said in a filing to the Cambodian Securities Exchange (CSX) yesterday that a sharp decline in net profit during the first three months of the year was the result of exchange rate fluctuations. ...

Civil servants, police officers and retired officials with disabilities will receive a Khmer New Year’s bonus of 50,000 riel (about $12.50) next month, a fraction of the $37.50 request that was made by a union last week. ...

The National Assembly passed the government’s $4.3 billion budget for 2016 this week, which includes a plan to take on nearly $1 billion in foreign debt. The Post’s Siv Meng sat down with Aun Porn Moniroth, Minister of Economy and Finance, to discuss the revenue ...

The ruling Cambodian People’s Party passed the government’s $4.3 billion budget for 2016 unopposed yesterday as Cambodia National Rescue Party lawmakers followed through on a pledge to sit out the National Assembly session if concerns for their members’ safety were not addressed. ...

The National Assembly of Cambodia approved on 30 November a 2016 defence budget of USD383 million, a 17% increase against spending in 2015. The defence allocation amounts to around 9% of total government expenditure for the year and about 2% of GDP. ...

Trade unions are proposing a new committee to monitor the country’s social fund for injured workers, pension program for civil servants and health care for the poor in a bid to improve and expand coverage. ...

Cambodia fared dismally in the 2014 budget transparency index compiled by the US-based International Budget Partnership, scoring only eight out of 100 and coming in near the bottom of the 102 countries surveyed, at 94. ...

The $4.3 billion 2016 draft budget moved one step closer to adoption yesterday, as the ruling party-controlled parliamentary committee tasked with reviewing the document gave it the green light. ...

Revenue from ticket sales to foreign tourists visiting Cambodia’s famed Angkor Wat temple reached $47.68 million in the first 10 months of 2015 — up 0.62 percent year-on-year, according to an official statement on Tuesday. ...

The General Department of Customs and Excise (GDCE) of the Ministry of Economy and Finance has collected around 4,649 billion Riel or some US$1.11 billion state revenue for the first nine months of 2015, according to the state news agency-AKP. ...

Revenue from ticket sales to foreign tourists visiting Cambodia’s famed Angkor Wat Temple reached 43.3 million U.S. dollars in the first nine months of 2015, up 0.24 percent year-on-year, according to a news statement on Friday. ...

Cambodia has earned nearly US$40 million from foreign tourists who visited Angkor Wat in the first eight months of this year, according to a report released Friday. ...

The Council of Ministers on Friday approved a draft strategy on 2015-2018 public debt management. ...

Budget decisions and oversight were among the subjects discussed by representatives from Viet Nam, Laos, Cambodia and Myanmar together with foreign experts at a joint workshop that opened in the central coastal city of Da Nang yesterday. ...

Deputy Prime Minister Keat Chhon has demanded officials reveal just how much they are spending on state-funded trips overseas and what those trips are accomplishing, a move observers said was a long overdue bid for accountability in an often-abused system.In a letter dated July 10 ...

Opposition party leader Sam Rainsy yesterday proposed the National Assembly increase the amount local authorities are allocated from the national budget, arguing that the current sum is insufficient.​ ...

The General Department of Customs and Excise (GDCE) collected more than $360 million in revenues for the national budget during the first quarter of 2015, a 13 per cent increase year-on-year, according to a statement from the department released last week. ...