The current revenue of the Royal Government of Cambodia (RGC) has increased more than double in the past five years, said H.E. Aun Pornmoniroth, Senior Minister and Minister of Economy and Finance.
From 2013 to 2018, the current revenue of the government has seen a twofold increase from around US$2,264 million to above US$4,560 million, he said at the Annual and Five-year Review Meeting of the Public Financial Management Reform Programme (PFMRP) held at Sofitel Phnom Penh Phokeethra Hotel this morning.
This increase has enabled the RGC to substantially increase expenditure, through both current spending and domestic investment on improving the quality and coverage of public services making them better and bringing them closer to people, he added.
According to H.E. Aun Pornmoniroth, for the last five years, the total government's expenditure have been doubled; however, budget of the Ministry of Education, Youth and Sports increased threefold, budget of the Ministry of Health went up almost 2.5 times, budget of the Ministry of Agriculture, Forestry and Fisheries increased threefold, and domestic public investment went up almost 2.5 times.
In addition, he pointed out, the share of external financing to the budget has decreased from roughly 70 percent in 1995 to around 21.4 percent in 2017 and has continued to decrease to less than 20 percent in 2018.
This is a clear evidence of Cambodia's budget becoming more independent and with increased ownership, stressed H.E. Senior Minister.
Source: Agency Kampuchea Press