Cambodian gov't approves over 5 bln USD for 2017's expenditures

The Council of Ministers of Cambodia on Friday approved 5.04 billion U.S. dollars for the government's expenditures in 2017, up 15.6 percent year-on-year, a statement said.

The approval was made during a weekly cabinet meeting, which was presided over by Prime Minister Samdech Techo Hun Sen.

According to the statement, the 2017's government spending is equal to 22.67 percent of the country's GDP.

"The budget for 2017 is vital to ensure the average growth of 7 percent per annum, to generate more jobs for people, and to reduce at least one percent of poverty rate per year," it said.

The budget will be focused on the spending in general administration, national defense, security, social affairs, education, health, agriculture, and infrastructure and economic development.

The statement said that the government will allocate some 834 million U.S. dollars for national defense, security and public order in 2017, an increase of 20.4 percent year-on-year.

It added that some 326 million U.S. dollars will be given to the economy-driven sectors next year, up 13.1 percent year-on-year.

The social sector will get 1.2 billion U.S. dollars in 2017, up 12.7 percent year-on-year, the statement said.

The draft budget bill for next year is needed to be passed by the National Assembly before year's end. Enditem