Phnom Penh: Despite the ongoing effects of the pandemic and the country’s community transmission event, Cambodia’s revenue performance remains stable and in good condition in the second quarter. This was revealed during Monday’s meeting of the Public Financial Management Reform Commission. The meeting was chaired by Finance Minister, Aun Pornmoniroth.
The discussion focused on monitoring the progress of the implementation of the Public Financial Management Reform Program. The results show the country’s financial performance is hovering just 5% below target, but officials are confident that target will be achieved by the end of the year.
The Budget Implementation Process is also improving, thanks to the introduction of action plans for resolving so-called “congestion expenditures”, expanding the payment of national budgets through e-transfers, improved preparation of public financial guidelines by ministries and other institutions, as well as strengthening the effectiveness of reforms to the public procurement system. The Finance Minister has expressed his thanks to his team for having achieved so much, despite the pandemic.