Cambodia Offers Cash Handouts To 360,000 Families Affected By Inflation, Floods

 Cambodia, yesterday, began to provide cash handouts to almost 360,000 households, with about 1.3 million people, affected by inflationary pressures and recent floods, a senior official said.

“The government is expected to spend 31 million U.S. dollars for inflationary pressure-hit families, and 15 million dollars for recent flood-stricken families, for three months (from Dec to Feb),” said Chan Narith, undersecretary of state of the Economy and Finance Ministry.

According to a directive, signed by Cambodian Prime Minister, Samdech Techo Hun Sen last week, those affected families had been identified by the Ministry of Planning, to receive cash assistance based on areas.

Those in the capital, Phnom Penh, will receive 25 U.S. dollars per family, with each household member getting an additional seven dollars, and those in provincial towns will be given 22 dollars, with each household member provided an additional six dollars, while those in rural areas will receive 20 dollars, with each household member getting an additional five dollars.

Recent flood-hit households in Phnom Penh and 15 provinces will receive 20 dollars for each family, with each member getting an additional four dollars, according to the directive.

The World Bank said, in its Cambodia Economic Update, released on Wednesday that, rising global energy, fertiliser and food prices, prompted a surge in inflation in the country, saying that, consumer price inflation accelerated to 7.8 percent in June, but eased to 4.9 percent in Aug, 2022.

“Inflation is particularly harmful to poor households,” the bank’s report said

Source: NAM News Network