July 18, 2011

Cambodia drafts budget for 2012 expenditure


PHNOM PENH, July 18 -- Cambodia on Monday unveiled a drafted budget of around 2.35 billion U.S. dollars for the country' s expenditure in 2012.

Speaking during a meeting with the members of parliament on budget draft for 2012 expenditure, the Minister of Finance Keat Chhon said the total expenditure for 2012 will be equal to 19.42 percent, or 2.35 billion U.S. dollars of the GDP growth this year.

The GDP this year is forecast to grow by 6.1 percent or 12.14 billion U.S. dollars, he said.

"It's just the drafted budget, the final one will be available in September," he said. "The expenditure is to ensure the stability of macroeconomics and the GDP growth."

Top priority sectors are national defense and security, health, education, agriculture, irrigation and infrastructure, he said.

The overall budget for 2011 was 2.4 billion U.S. dollars.

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