National Assembly Approves Draft Budget for 2023

• Sommana Yan
• 29 November 2022
• Uncategorized
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The National Assembly on Tuesday approved the draft budget law 2023 under the chairmanship of Kittisethabindit Cheam Yeap, Acting President of the National Assembly.

According to the draft law of budget bill 2023, the government plans to spend 39,206,205 million riels, equivalent to US$9.6 billion, equivalent to 29.87% of GDP, an increase of 13% compared to the 2022 budget law.

To meet the expenditure, the government plans to collect revenue at 29,311,747 million riels, equivalent to approximately US$7.2 billion (excluding state budget capital revenue in the form of loans), equivalent to 22.33% of GDP, an increase of 14.5% compared to the 2022 budget law.

The revenue and expenditure Plan in the 2023 national budget law creates a total budget deficit of 7.54% of GDP.

This deficit will be filed by foreign financing, government deposit, support funds, and the issuance of government bonds.

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