A Change of Guard

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Wednesday 19 October 2011

Cambodian Cabinet Ministers Approve 10 trillion Riels for 2012

AKP Phnom Penh, October 19, 2011 –The Cambodian Cabinet Ministers in a meeting held this morning under the chairmanship of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen approved the draft law on finance for 2012 management worth up to 10,767,982 million Riels (10 trillion riels or approx. US$2.69 billion).

This budget will enable the government to maintain the sustainable annual economic growth at around 7 percent; reduce poverty at a rate of more than 1 percent annually; improve the fields of social welfare, education, health and gender equality; promote rice production and export; and rehabilitate the flood-damaged infrastructure, etc., according to a Press and Quick Reaction Unit’s press release.

The government will also continue to increase 20 percent to the civil servants and armed forces’ basic salary in 2012, it said.

By KHAN Sophirom

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