February 1, 2023

National Assembly approves draft budget for 2023

The National Assembly (NA) approved the draft budget law 2023, in its 8th session of the 6th legislature held here on Tuesday under the chairmanship of H.E. Cheam Yeap, NA Acting President.
According to the draft budget law 2023, the government plans to spend 39,206,205 million Riel, equivalent to US$9.6 billion, which represents 29.87 percent of Gross Domestic Product (GDP), an increase by 13 percent compared to the 2022 budget law.
To meet the expenditure, the government plans to collect a total revenue of 29,311,747 million Riels, approximately US$7.2 billion (excluding state budget capital revenue in the form of loans), equivalent to 22.33 percent of GDP, up 14.5 percent compared to last year’s budget law.
Foreign financing, government deposits, support funds, and the issuance of government bond will file the budget deficit of 7.54 percent of GDP.

Source: Agency Kampuchea Press