Logo of Phnom Penh Post newspaper Phnom Penh Post - Government under budget for first half

Government under budget for first half

Government under budget for first half

The government spent far less than half of its approved $5 billion budget for expenditures in 2017 during the first six months of the year, according to a new report by the Ministry of Economy and Finance (MEF).

The report, released on Monday, showed the government spent $1.38 billion of its national budget during the first half of 2016, with $1.22 billion going to fiscal expenses and $162 million to cover capital expenses.

The budget, managed by the National Treasury, had a temporary surplus of $590 million. However, the MEF predicted the surplus would decline to around $202 million by the end of the year as government ministries accelerate their spending.

The MEF noted that during the first half of the year, the government generated total revenue of $2.19 billion, a 29 percent increase compared to the same period in 2016.

Fiscal revenue, which is comprised primarily of taxes and customs fees, generated $2.1 billion, while capital revenue that comes from royalty payments and state-owned businesses amounted to $90 million.

Based on the report, the MEF expects to achieve revenue collection 4.2 percent higher than the government mandated target for 2017.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Banteay Meanchey gunfight sees 15 Thais arrested, three officers injured

    The Banteay Meanchey Military Police have arrested 15 Thai suspects and their accomplices after a gun battle between two Thai groups caused injuries to three police officers in the early hours of November 21, local authorities said. National Military Police spokesman Eng Hy said that according to

  • PM: Do not defile Tonle Sap swamp forest or else

    Prime Minister Hun Sen ordered police to arrest anyone – including government officials – involved with the deforestation of the flooded forests surrounding the Tonle Sap Lake because it is an area important to the spawning of many species of fish, among other reasons. Speaking in a