Cambodia Launches 4th Stage of Public Financial Management Reform Programme

The vision and strategy of the Public Financial Management Reform Programme-Stage 4 (2023-2027) were launched here at Sokha Phnom Penh Hotel this morning under the presidency of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia.

Addressing at the auspicious ceremony, Samdech Techo Hun Sen said the current development and achievements of Cambodia had derived from the reform programme.

“I have traded my head not only for the survival of Cambodian people from the Khmer Rouge genocidal regime and for the full peace after UNTAC (United Nations Transitional Authority in Cambodia) failed, but also for the national reform,” he said.

For the national reform, Samdech Techo Hun Sen recalled that Cambodia had started the political and economic reforms since the 1980s.

“Cambodia has conducted reforms by ourselves before the EU and other international communities came to support,” he underlined.

H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance said the fourth stage of the Public Financial Management Reform Programme (2023-2027) mainly focuses on the achievement of the basic performance accountability which is the main target of the overall public financial management reform programme of Cambodia.

With the Royal Government’s commitment, Cambodia has ended the chronic cash shortage to a cash surplus by completely eliminating congestion in the National Treasury, which enables the Royal Government to ensure regular and timely pay roll for civil servants, he said.

Gradual financial diversification of both revenue and expenditure frameworks, such as the transfer of certain taxes to the sub-national level, including real estate and movable property taxes, patent tax, etc., he added.

According to the Ministry of Economy and Finance, the Public Financial Management Reform Programme began in Cambodia in December 2004.

The first stage of the programme lasted from 2004 to 2008 focusing on “Budget Credibility”, the second stage from 2009 to 2015 on “Financial Accountability”, the third stage from 2016 to 2022 on “Budget-Policy Linkages”, and the fourth or final stage from 2023 to 2027 on “Performance Accountability”.