Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen has regarded the National Budget Law 2023, whose draft was approved by the Council of Ministers yesterday, as a budget for “people and economic growth.”
The Premier made the comments at the distribution ceremony of rice seeds and foodstuffs to flood-affected victims in Kampong Thom province this morning.
Samdech Techo Hun Sen explained that in 2023, the Royal Government will provide more financial support for poor households affected by COVID-19 and by inflation so that they do not fall below the poverty line.
2023 is also the year that the Royal Government will resume the pay rise of civil servants, armed forces, retired officials, as well as capital, provincial, city, district, Khan, commune, and Sangkat officials and village officials, after a two-year hiatus due to the COVID-19 pandemic, he added.
According to the draft National Budget Law 2023, the country’s expenditure is planned at US$9.64 billion, up 13 percent compared to that of 2022, accounting for 29.87 percent of the country’s Gross Domestic Product (GDP).
To meet the expenditure, the government is expected to earn a total revenue of US$7.21 billion next year, up 14.5 percent from this year.
The government has also planned to borrow another 1.7 billion SDR (Special Drawing Right), or almost US$2.2 billion, from friendly countries and development partners and the rest is from government bond issuance.
Source: Agency Kampuchea Press