The Cabinet of Ministers will today deliberate the allocation of 2019’s national budget, which is to be approximately $6.44 billion, a seven percent increase when compared to this year’s.
Government spokesman Phay Siphan yesterday said Prime Minister Hun Sen is due to preside over the deliberation.
He added an agreement to avoid double taxation of goods between Cambodia and Vietnam, and Cambodia and Indonesia, will also be discussed alongside a Cambodia-Russia Extradition Treaty.
The budget allocation for 2019 is categorised into five parts: general administration, national security and defence, social welfare, the economy and an emergency fund.
According to a draft budget obtained by Khmer Times, $615.88 million will go to general administration, $1.1 billion to security and defence, $1.81 billion to social welfare, $1.65 billion to the economy and $1.25 billion to the emergency fund.
The draft also said the Defence Ministry will receive $604.1 million, the Health Ministry $455.23 million, Education Ministry $915.42 million, Public Works Ministry $748.58 million, Interior Ministry $379.93 million, Rural Development Ministry $187.27 million and Water Resources Ministry $229.8 million.
The budget for 2018 was $6.03 billion, while the budget in 2017 was $5.23 billion
Cambodia’s gross domestic product grows at a stable rate of about seven percent annually, with the construction and the tourism sectors contributing the most.