Illustrative image (Source: AFP/VNA)The Council of Ministers of Cambodia on October 21 approved 4.3 billion USD for the government's expenditures for 2016, up 16.1 percent over the 2015 figure.
The Spokesman of the Council, Phay Siphan, said on his Facebook page that the approval of the 2016 draft budget was made during a cabinet meeting chaired by Prime Minister Hun Sen.
According to the draft, the budget for 2016 is very important for ensuring an average annual growth of 7 percent, accelerating poverty reduction, and improving Cambodian people's living conditions.
Cambodian government’s spending next year is equal to 21.31 percent of the gross domestic product (GDP), focusing mainly on infrastructure investment, human resources development, economic development, national defence and health. The country will allocate 1.43 billion USD for infrastructure projects such as roads, bridges, railroads, ports, irrigation systems, and other economy-driven projects.
The Ministry of Education will get 500 million USD, up 28 percent year-on-year, and the Ministry of Defence will be provided with 383 million USD, an increase of 17 percent, while the ministry of health will receive 274 million UD, up 8.6 percent compared to 2015.
The draft needs to be passed by the National Assembly before the end of 2015.-VNA
