Government Approves US$8.1 Billion National Budget for 2021
AKP Phnom Penh, October 24, 2020 —
The Royal Government of Cambodia on Friday approved some US$8.1 billion as the government’s planned expenditure in 2021.
The Cabinet Meeting held here yesterday under the chairmanship of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen approved a budget of US$8,134 million for 2021, of which US$7.500 million for the national-level expenditure and US$634 million for the sub-national expenditure.
The 2021 budget will be allocated to key sectors such as general administration, national defence, security and public order, social affairs and economy.
To meet the expenditure, the government plans to collect some US$5,275 million as national revenue. In addition, the government plans to borrow about 1,500 million SDR from development partners, which are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund.
According to a press release on the outcome of the weekly Cabinet Meeting, the 2021 budget is a budget to fight to protect people’s lives, maintain socio-economic stability and people’s livelihoods, as well as focus resources to restore and stimulate economic growth in the post COVID-19 crisis, with an aim to ensure peace, social stability and sustainability of Cambodia’s economic growth and competitiveness with the continued improvement of the people’s well-being.
The draft budget law for 2021 needs to be adopted by the National Assembly before the year-end.
According to the 2020 National Budget Law, the expenditure was planned at more than US$8.2 billion while the revenue at US$6.5 billion.
By Chea Vannak