Kingdom raises $58 million from government bond issuance in 2023

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. ...

Chea Vanyuth

Prelims suggest 55 of 58 Senate seats for ruling CPP

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.  ...

Post Staff

Manet redirects $200M to social programmes

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. ...

Samban Chandara

190 Municipal-District Administration implements Sub-National Administrative Investment Fund

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 ...

Khmer Times Staff

Government transfers extra funds to communes

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. ...

Hang Punreay

Cambodia’s annual public debt is below 20 percent of national budget, says PM Hun Sen

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). ...

Khmer Times Staff

Finance ministry unveils 2030-vision toolkit

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. ...

Hin Pisei

NBC: Int’l reserves $17.8B at end-2022

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 ...

May Kunmakara

Transparency urged in communes’ spending

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. ...

Samban Chandara

Cambodia reports $6.6M budget surplus in 11 months

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 ...

Kang Sothear

National Assembly approves $43M budget

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

Lay Samean

Cambodian debt stands at $9.81b

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. ...

Seng Mengheng​ and Chhorn Raksmey

60% of state savings’ to be spent on Covid

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 ...

Hom Phanet

France backs Cambodian budget and accounting reform

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

Khmer Times Staff

Government approves draft budget of $7,993 million for its expenditure next year

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. ...

Chea Vanyuth

Sweden and EU continue to fund Parliament-focused NGO’s Cambodian efforts

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. ...

Mom Kunthear

Management of Cambodian local funds under transparency review

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. ...

Sok Chan

Civil servants’ expense stipends cut

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 ...

Khann Chan Virak

Oil money to boost digital education

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. ...

Jason Boken

Fiscal revenue growth revised down

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. ...

Harrison White

2021 draft budget sees a half billion reduction

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. ...

Harrison White

Public has little say in gov’t spending, says NGO

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. ...

Mom Kunthear

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