Logo of Phnom Penh Post newspaper Phnom Penh Post - Public consulted on 2023 national budget

Public consulted on 2023 national budget

Content image - Phnom Penh Post
Chheang Vun remarks at the June 23 opening ceremony of the national public forum title “Citizen Engagement in Budget Formulation and Monitoring of Public Revenue and Expenditure Process in the Post Covid-19 era” in Phnom Penh. Hong Menea

Public consulted on 2023 national budget

The Public Expenditure Target for 2023 aims to prioritise improving the people’s standard of living and build a more resilient society by accelerating the education sector, promoting vocational training and strengthening social protection systems – a move expected to greatly assist with the rehabilitation of the Kingdom’s economy post-pandemic.

Chheang Vun, chairman of the National Assembly’s 2nd Commission on Economic, Finance, Banking and Audit, made the remarks at the June 23 opening ceremony of the national public forum title “Citizen Engagement in Budget Formulation and Monitoring of Public Revenue and Expenditure Process in the Post Covid-19 era” in Phnom Penh.

Vun said that in 2023, investment in Cambodia is expected to rise thanks to a number of internal and external factors. He explained that the external factors would likely be an increase in demand for goods, both regionally and globally, as more countries have largely brought Covid-19 under control.

Internal drivers would be the government’s continued ability to manage the pandemic, and would especially reflect the success of the Kingdom’s vaccination programme.

“Reforms – in both administrative processes and policy – aim to improve the environment and accelerate trade and investment, as well as promoting the development of digital trade in the national economy. Based on these, Cambodia’s economic growth in 2023 is projected to reach 6.6 per cent. Inflation is expected to be held to 2.5 per cent,” he said.

Tek Vannara, executive director at the NGO Forum on Cambodia who was also present at the event, said citizen’s engagement in the budgeting process was very important as it helps the authorities to understand people’s real needs and concerns. It also contributes to transparency and accountability, which is vital for retaining public trust.

“The legal framework at the sub-national level has many laws and policies designed to promote public engagement, especially in the design and implementation of budgets. Unfortunately, enforcement of these regulations is not yet fully effective,” he said.

Vannara said that in order to establish effective investment and monitoring planning, the members of local communities must be educated in the system.

Chan Chhorvy Sok, representative of Oxfam in Cambodia who also attended the forum, said sustainable and environmental development requires the participation of all sectors, including government institutions, civil society organisations, the private sector and national and international organisations.

“The engagement of civil society and the public will make all policies responsive and place a priority on the most vulnerable members of society, those under the poverty line – especially women and girls – through effective increased income collection and equity with regards to investment and public expenditure,” she said.

MOST VIEWED

  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom

  • PM warns of int’l election interference

    With the national election scheduled to take place in less than two months, Prime Minister Hun Sen has warned foreign nations and their diplomats not to interfere into Cambodia’s domestic affairs. He also hinted that their statements on court verdicts handed down to any