Phnom Penh (FN), Mar. 20 – Cambodian prime minister Hun Sen said that the Public Financial Reform (PRMRP) over the past 20 years has made many historic achievements in Cambodia, both in terms of improving the governance of public financial management and in terms of socioeconomic development of Cambodia.

The premier spoke at implementing the Public Financial Management Reform Program Phase 4 (2023-2027), held on Monday (Mar 20) at Sokha Phnom Penh Hotel.

"This optimistic indicator is one of the most important economic chains that make Cambodia achieve growth and stabilize its economic growth. The kingdom has elevated itself from a low-middle income country in 2015 to an upper-middle income country by 2030 and a high-income country by 2050," the premier underscored.

The Royal Government has promoted the people's living standards and the quality of civil servants. Public institutions and public services have improved through the four priorities set in the government’s Rectangular Strategy, the premier underlined.

On that occasion, Samdech also said that all these achievements significantly contributed to reducing poverty in Cambodia, in particular good public financial system has provided the Royal Government with sufficient savings to deal with any unforeseeable problems in the past.