National Assembly approves budget for 2020

The National Assembly yesterday approved the draft Budget Law for 2020, according to which the government plans to spend $8.2bn for 2020, a 22% increase compared to 2019. As per the law, $4.8bn will be allocated to current expenditures and $3.3bn will go to capital expenditurs, which including public investment and debt repayment. $2.1bn will be used for paying the salaries for government officials. The ecomomic sector will receive $1.8bn, the social sector $1.9bn and national defense (including security and public order) $1.18bn, while about $620mn will go to the general administration. To afford the level of expenditure, the government aims to collect $6.5bn in revenue, a 24% hike compared to last year. The remaining money will be borrowed from development partners. (Source: Khmer Times)