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. ...
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 ...
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. ...
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 ...
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). ...
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 ...
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. ...
Cambodia to change to electronic system to manage National Budget
Cambodia’s commitment to reform public financial management through a financial management information system (FMIS) is on the right track. ...
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. ...
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. ...
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. ...
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. ...
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. ...
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. ...
Council of Ministers approves draft law on state assets
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 ...
Overall development assistance transparency improving
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. ...