PM: Government Not to Go Bankrupt

Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, has rejected some comments saying that Cambodia is facing bankruptcy.

While presiding over a press conference here this morning after the launch of the vaccination campaign of the under-18s, Samdech Techo Hun Sen said the country’s current revenue is about US$400 million a month.

For the first seven months of this year, he pointed out, Cambodia generated more than US$3,000 million as income, of which US$1,716 million as tax income and US$1,355 million as customs income, or 75.5 percent and 56.9 percent of the yearly plan, respectively.

“For the remaining 5 months, we would generate up to about US$2,000 million income,” he continued.

Even though the revenue dropped, the Premier stressed, it still can support the expenses.

Besides the COVID-19-related spending, the construction of physical infrastructure, including that of roads in Preah Sihanouk and Siem Reap provinces, continued, while the civil servants and armed forces keep getting their salary twice a month as well as their incentives for the Khmer New Year and Pchum Ben Festival as usual, he said.

Furthermore, he pointed out, Cambodia has US$3,000 million reserve funds before being hit by COVID-19 (about 1/3 of the funds has been spent), without counting the US$20,000 million foreign reserves and the over 44 tonnes of gold reserve.

“Therefore, the Royal Government will not go bankrupt,” Samdech Techo Prime Minister reaffirmed.

Samdech Techo Hun Sen took the opportunity to express his gratitude to Their Majesties the King and Queen-Mother, other local and foreign charitable people, friendly countries and international financial institutions for their donations and support for the fight against COVID-19 pandemic in Cambodia.


Source: Agency Kampuchea Press