The draft budget law for 2021 was unanimously approved by the National Assembly (NA) in its 5th session of the 6th legislature held here on Nov. 25 under the chairmanship of Samdech Akka Moha Ponhea Chakrei Heng Samrin, President of NA.
Deputy Prime Minister and Minister of Economy and Finance H.E. Aun Pornmoniroth who represented the Royal Government to defend the draft law explained that the proposed national budget 2021 is a budget to protect people’s lives, maintain socio-economic balance and people’s livelihoods as well as to orientate resource toward the rehabilitation and boosting of economic recovery in the post-COVID-19 health crisis period.
According to the draft budget law of six chapters and 15 articles, the Royal Government planned a budget of US$8,134 million for 2021, of which US$7.500 million for the national-level expenditure and US$634 million for the sub-national expenditure.
The 2021 budget will be allocated to key sectors such as general administration, national defence, security and public order, social affairs and economy.
To meet the expenditure, the government planned to collect some US$5,275 million as national revenue, and borrow about 1,500 million SDR from development partners, which are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund.
According to the 2020 National Budget Law, the expenditure was planned at more than US$8.2 billion while the revenue at US$6.5 billion.