RGC: Spending for 2017 To Increase by 23.3%

The Royal Government of Cambodia (RGC) is planning to increase its total spending by around 23.3% of Gross Domestic Product (GDP) in 2017 to support the fields of national defense, security, public order, social affairs and economy.

The figure was shared by Senior Minister and Minister of Economy and Finance H.E. Aun Porn Moniroth at a Parliamentary Workshop on Understanding of Macroeconomic and Public Financial Policy for Elaboration of Draft Law on National Budget in 2017, held at the National Assembly (NA) on June 14 under the chairmanship of NA President Samdech Akka Moha Ponhea Chakrei Heng Samrin.

Of the amount, 22.21% of GDP will be used for national administration and the rest for sub-national administration, said the minister.

Around 1.91%, 3.60%, 5.44% and 1.45% of GDP will be spent on general administration; national defense, security and public order; social affairs; and economic sector, respectively (up 5.4%, 14.4%, 11.76% and 10.74%, respectively compared with the figure in 2016), H.E. Aun Porn Moniroth pointed out.

In November 2015, NA approved the national budget law for 2016 of almost US$4.3 billion, up 16% from that in the previous year, of which nearly US$400 million for general administration; some US$700 million for national defense, security, and public order; over US$1billion for social affairs, and almost US$300 million for economic sector.

 

Source: AKP