Cambodia Launches Budget System Reform Strategy 2018-2025

The Royal Government of Cambodia launched here this morning the Budget System Reform Strategy 2018-2025 under the presidency of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen.

The launching ceremony took place as part of the Annual and Five-Year Review Meeting of Public Financial Management Reform Programme (PFMRP) at Sofitel Phnom Penh Phokeethra Hotel.

This strategy is the core of the PFMRP for moving the Public Finance Management from Stage 3 to Stage 4 and has been formulated with full ownership of Cambodia and relevant to Cambodia's context in transforming the budget to be an effective policy tool for the development, said the Premier on the occasion.

It is a tool for sustainably mobilising national resources and reallocating them effectively and efficiently for development purposes, he added.

The implementation of PFMRP, launched by the Cambodian Premier on Dec. 5, 2004, was divided into four stages: Budget Credibility, Financial Accountability, Budge-Policy Linkages, and Performance Accountability. Cambodia is now on the third stage which is expected to complete in 2020.

Source: Agency Kampuchea Press