Illustrative image (Photo: Xinhua) Phnom Penh (VNA) – Cambodia’s National Assembly(NA) on November 25 approved the draftbudget of 8.5 billion USD for the government spending in 2022, a rise of8.4 percent over that of 2021.
Speaking during a NA session, Economy and Finance MinisterAun Pornmoniroth said the budget is equal to 27.95 percent of the kingdom'sgross domestic product (GDP).
He said that the 2022 budget is essential to respond to theimpacts of COVID-19, restore economic growth, and ensure the success ofthe commune elections and the success of the ASEAN summits when Cambodia is thehost.
Pornmoniroth held that the Southeast Asian nation's economyis projected to grow 4.8 percent in 2022 from 2.4 percent in 2021.
To meet the expenditure next year, the government isexpected to earn a total revenue of 6.3 billion USD next year, up 19.3 percentfrom this year, the draft budget law said, adding that it has alsoplanned to borrow another 1.6 billion Special Drawing Rights (SDR), or 2.26billion USD, from friendly countries and development partners in 2022.
Chheang Vun, chairman of the National Assembly's commissionon economy, finance, banking and audit, said the 2022 budget would be focusedon general administration, the fight against COVID-19, health, education,economy-driven sector, social sector, national defence, security and publicorder.
Earlier, Cambodian Prime Minister Samdech Techo Hun Sen saidthat Cambodia has spent 2.3 billion USD dealing with the COVID-19 crisis in thepast 20 months.
Addressing the inauguration ceremony of the StuengTrang-Kroch Chhmar Cambodia-China Friendship Bridge on November 23, PM HunSen said that the country has used its State budget to buy 28 million COVID-19vaccine doses to vaccinate more than 14 million local people against thepandemic.
With its high vaccination rate, the Southeast Asian nation has recentlyreopened the country in all areas.
He said he is confident that the reopening of the countrynow is not a setback, and adding that the kingdom's economy is expected to growaround 3 percent this year and up to 5 percent in 2022.
After more than three weeks of resuming operations of themajority of sectors, Cambodia has seen low COVID-19 case number at two digits./.
Speaking during a NA session, Economy and Finance MinisterAun Pornmoniroth said the budget is equal to 27.95 percent of the kingdom'sgross domestic product (GDP).
He said that the 2022 budget is essential to respond to theimpacts of COVID-19, restore economic growth, and ensure the success ofthe commune elections and the success of the ASEAN summits when Cambodia is thehost.
Pornmoniroth held that the Southeast Asian nation's economyis projected to grow 4.8 percent in 2022 from 2.4 percent in 2021.
To meet the expenditure next year, the government isexpected to earn a total revenue of 6.3 billion USD next year, up 19.3 percentfrom this year, the draft budget law said, adding that it has alsoplanned to borrow another 1.6 billion Special Drawing Rights (SDR), or 2.26billion USD, from friendly countries and development partners in 2022.
Chheang Vun, chairman of the National Assembly's commissionon economy, finance, banking and audit, said the 2022 budget would be focusedon general administration, the fight against COVID-19, health, education,economy-driven sector, social sector, national defence, security and publicorder.
Earlier, Cambodian Prime Minister Samdech Techo Hun Sen saidthat Cambodia has spent 2.3 billion USD dealing with the COVID-19 crisis in thepast 20 months.
Addressing the inauguration ceremony of the StuengTrang-Kroch Chhmar Cambodia-China Friendship Bridge on November 23, PM HunSen said that the country has used its State budget to buy 28 million COVID-19vaccine doses to vaccinate more than 14 million local people against thepandemic.
With its high vaccination rate, the Southeast Asian nation has recentlyreopened the country in all areas.
He said he is confident that the reopening of the countrynow is not a setback, and adding that the kingdom's economy is expected to growaround 3 percent this year and up to 5 percent in 2022.
After more than three weeks of resuming operations of themajority of sectors, Cambodia has seen low COVID-19 case number at two digits./.
VNA
