The Royal Government of Cambodia this morning endorsed the draft budget law for 2025, according to a press release from the Office of the Council of Ministers issued this evening. The approval was made during the plenary cabinet meeting held at the Peace Palace in Phnom Penh this morning under the chairmanship of Prime Minister Samdech Moha Borvor Thipadei Hun Manet. According to the six-chapter-of-15-article draft budget law, the planned expenditure in 2025 is more than KHR 37,950 billion (about US$ 9.37 billion) or 18.14 percent of the country's gross domestic product (GDP). This 2025 budget will serve as an effective and efficient political tool of the Royal Government to further maintain, protect and strengthen major achievements attained so far by Cambodia as well as a foundation for further development of the country, underlined the release. Based on the medium-term evaluation of public financial framework, Cambodian economy is forecasted to grow at 6,3 percent next year with a total GDP of US$51,3 98 million, while the GDP per capital would reach to US$2,924. The expected economic growth is supported by key economic sectors, including industry with a growth rate of 8.6 percent, services 5.6 percent, and agriculture 1.1 percent. The inflation rate is predicted to be around 2.5 percent. The budget law for 2024 stated the Royal Government's planned expenditure at KHR 38,829 billion, approximately US$9.4 billion, accounting for 29.87 percent of GDP. Source: Agence Kampuchea Presse
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