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Draft Law on Finance Sent to National Assembly for Review

Phnom Penh: The 2022 Financial Management Law has been sent to the National Assembly for review after being approved by the Standing Committee on Wednesday morning. The draft law is designed in the context of Cambodia being in the midst of the Covid-19 crisis, in which the government needs to take action to combat it.

The law would allow the government to spend a total of $8.677 billion on the national budget to control spending and tackle the Covid-19 crisis next year. In addition to this draft law, there are two other laws that the National Assembly will accept and send to the expert committee for review: the draft law on the approval of the ASEAN Protocol on Strengthening the Dispute Resolution Mechanism and the draft law on budget settlement.

The three draft laws were approved by the Council of Ministers on 22 October under the chairmanship of Prime Minister Hun Sen.

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