Cambodian Cabinet Ministers Discuss Draft Budget Law for 2019
AKP Phnom Penh, October 26, 2018 —
The draft law on National Budget for 2019 was discussed in a weekly Cabinet Meeting held here this morning under the chairmanship of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen.
According to the Ministry of Economy and Finance, the Royal Government’s planned spending for 2019 is 27,164,996 million Riel or US$6.7 billion, up some 11.4 percent compared to that in 2018.
Some 7,862,537 million of the total spending will be used to increase the salary of civil servants and armed personnel.
The Royal Government of Cambodia planned to spend 2,463,542 million Riel, up 0.4 percent for general administration; 4,425,150 million Riel, up 10.5 percent for national defence, security and public order; 7,249,418 million Riel for social affairs, up 3.4 percent; 6,620,459 million Riel for economic sector, up 16.8 percent; etc.
Meanwhile, the state income in 2019 is expected to be some 21,186,228 million Riel in 2019, up 14 percent, while the budget deficit will be -5.44 percent of GDP which is in line with the fiscal consolidation. The deficit will be complemented by foreign financing, budget support fund and the government deposits.
By Khan Sophirom