Logo of Phnom Penh Post newspaper Phnom Penh Post - Chhon readies budget

Chhon readies budget

Chhon readies budget

N EW Finance Minister Keat Chhon's first "key" task is to prepare next year's national budget, he told reporters outside the National Assembly.

Chhon, in his first speech since replacing Sam Rainsy who was sacked recently, said he would work to stabilize the economy.

"We will cooperate with the international finance institutions to balance our budget," he said.

Chhon would not comment on the implications of Rainsy's dismissal but said his new portfolio would be a big responsibility.

He accepted the "challenging" portfolio because co-Prime Ministers Prince Norodom Ranariddh and Hun Sen trusted him.

His task was to stabilize and develop the economy, stabilize prices and increase the rate of factory and business production.

Chhon gave no indication of any change to the National Bank of Cambodia's decision to introduce larger denomination notes of up to 100,000 riel.

He did say that the use and distribution of 50 riel notes would be encouraged

MOST VIEWED

  • Negotiations on EBA being held

    In an effort to defuse tensions, a senior government official said Cambodia is negotiating with the European Union (EU) on the Everything But Arms (EBA) trade deal, which allows the Kingdom to export goods to the 28-member bloc tariff-free. The EU notified Cambodia on October 5

  • Ministers to tackle sea pollutants

    Preah Sihanouk provincial authorities and members of local communities have collected 77 tonnes of water hyacinth at a Sihanoukville beach, Preah Sihanouk Provincial Hall spokesperson Or Saroeun said. He told The Post yesterday that the aquatic weeds had been floating along some of the province’s

  • Chinese police escort deported scam suspects

    Ninety-one Chinese nationals accused of extorting money from victims in a Voice over Internet Protocol (VoIP) scam were deported from Phnom Penh International Airport on Monday under the escort of 182 Chinese police personnel. General Department of Immigration head of investigations Ouk Hay Seila told reporters

  • Sam Rainsy, government group set to clash at IPU Geneva meet?

    Opposition figure Sam Rainsy has been invited to speak at the General Assembly of the Inter-Parliamentary Union (IPU) in Geneva, according to a former Cambodia National Rescue Party (CNRP) lawmaker. A government delegation is also set to attend the meeting, a National Assembly press release