Phnom Penh (FN), April 21 – Aun Pornmoniroth, Senior Minister of Economy and Chairman of the Steering Committee on Public Financial Management Reform, announced that the current budget revenue of Royal Government of Cambodia has doubled from $2,264 million in 2013 to $4,560 over the past five years, thanks to the strengthened mechanism of revenue mobilization, the effective management of public debt, budget deficit, budget allocation and expenditure.

His announcement was made during an annual and 5-year review meeting of Public Financial Management Reform (PFMR) at Sofitel Phnom Penh on Friday.

He added that the increase in revenue has enabled the Royal Government to increase its spending on improving quality and scope of public services in response to the needs of citizens.

According to the Senior Minister, the proportion of budget revenue from foreign funding has decreased from approximately 70% in 1995 to only 21.4% in 2017 and will continue to decline to less than 20% in 2018.

This is a clear indication that Cambodia has become more financially independent and autonomous.