The Royal Government of Cambodia has managed and utilised the assets and liabilities in the effective measures, which is able to sustain the above implementations in a timely manner amid the Covid-19 pandemic.
The revenue performance of the Budgetary Central Government has accumulated the total of KHR 10,976 billion (approximately US$2.47 billion) in the first five months of this year, an increase by 17.08 percent, according to a report of the Ministry of Economy and Finance.
Of which, tax revenues were KHR 9,964 billion; grant revenue KHR323 billion; and other revenue KHR 689 billion.
“Based on the historical trends of revenue performance over the past years, coupled with the recovery of Cambodian socio-economic activities, the revenue performance of 2022 is on track to meet targets set out in the 2022 budget law,” stated the report.
The expenditure performance has executed the total of KHR 10,528 billion (approximately US$2.58), increased by 11.92 percent, pointed out the report, adding that KHR7,394 billion went to expense performance while KHR3,133 billion others to net investment of non-assets.
“The budget expenditure for 2022 upholds the premise of minimising unnecessary spending while shifting the priority to further combat the consequences of the Covid-19 pandemic,” the report said.
Taking into consideration the current economic conditions of the Cambodian economy, the 2022 budget law has been prepared in line with the priorities of restoring and promoting the growth and revitalisation of the Cambodian economy –society, expecting a 5.6 percent growth rate in 2022.
Source: Agency Kampuchea Press