THE Council of Ministers is set to approve a draft law on the Kingdom’s 2011 budget today, after officials earlier this year pointed to a US$830 million expenditure rise.
Yesterday, Hang Chuon Naron, secretary of state for the Finance Ministry, declined to discuss further details, saying to “wait and see” if it was approved.
But Cheam Yeap, chairman of the National Assembly’s Commission of Economy, Finance, Banking and Audit, said the proposal may be unchanged from a statement made by Finance Minister Keat Chhon earlier this year.
The minister told National Assembly members in July that the government drafted the budget of 12 trillion riels (US$2.83 billion) for the 2011 — up from 8.5 trillion riels in 2010. Of the amount, 9 trillion riels would stem from various revenue streams, leaving a shortage of 3 trillion riels.
Cheam Yeap said yesterday that a gradual increase of the budget would meet broader needs for economic and social development in the Kingdom.
“For Cambodia, our priority sectors are still education, health, rural development, agriculture, women affairs, social affairs and physical infrastructure,” he said.
“The national security and defense budget may not increase,” he added.
Friday, October 15, 2010
- Price index shows rise in petrol, vegetables
- Tourism Ministry links with Oz university
- Mobile warfare
- Passenger train service in Kingdom set to resume
- Cambodia's gold closer than ever to being mined
- Kingdom's property insurance sector still in its i...
- Bangkok to vote on border
- Island building: Koh Puos sales office on the way
- Plug pulled on Mobitel money transfers
- Campu's parent firm to focus on Kingdom
- Cambodia, China to sign rice-export deal
- Brothel owner gets 10 years
- WiMAX debacle must prove a wake-up call
- Cambodian economy earns ‘mini-tiger’ recognition
- Orange People going global
- AsiaInfo-Linkage inks contract with Mfone
- South Korean tech standard adopted
- Visitors to Angkor Wat on the rise
- Outsourcing 'fair' tech trade
- Business secrecy a concern for organisers of econo...
- Trade with Malaysia rises after visit by Najib
- JICA sets out plan to help investors
- Cambodia: Budget draft 2.3bn for year 2011
- ASEAN focuses on logistics
- Tobacco-control law should be passed by 2015, offi...
- MFIs see loans, profits soar
- NBC puts Mobitel on notice over cash service
- Indochine Mining to raise millions
- Wireless “WiMAX” derailed in the Kingdom
- Air France eyes Cambodian skies
- Key corruption suspects identified
- Cambodia “future of world rice”
- Cambodia needs a sensible energy plan
- More tourists may not bring salvation
- IMF sees Kingdom on track to solid recovery
- Growth on KPMG's horizon
- Investing in social enterprise
- High prices in Cambodia: a taxing problem
- Go further with disclosure and embrace ETIT
- Get the booze balance right for your liver
- Work in Phnom Penh can be risky business
- The riel turns the corner, but devaluation continu...
- Little shop of horrors
- Mobitel under greater pressure to clarify Cellcard...
- Sex trend "surprising"
- Best start way for Cambodia bourse
- Road tax offenders could be fined: official
- Punishment drunken driver at night time in Phnom P...
- ▼ October (48)