PHNOM PENH, Oct. 23 (Xinhua) -- The Cambodian government on Friday approved a draft budget of approximately 39.7 trillion riels (about 9.72 billion U.S. dollars) for public spending in 2027.
The approval came during a weekly cabinet meeting chaired by Prime Minister Hun Manet, according to an official press release. The proposed budget accounts for 16.57 percent of the kingdom's gross domestic product (GDP).
According to the release, the 2027 budget aims to maintain people's livelihoods and support targeted growth in an environment of high uncertainty, while ensuring adequate responsiveness and public financial sustainability.
On the macroeconomic front, Cambodia's economy is projected to grow by roughly 4 percent in 2026 before accelerating to 4.8 percent in 2027. Concurrently, GDP per capita is expected to rise to 3,277 dollars next year, up from approximately 3,098 dollars in 2026.
This growth will be driven primarily by key sectors, including garment, footwear, and travel goods exports, alongside tourism, agriculture, wholesale and retail trade, transportation and logistics, and information technology and telecommunications.
To become law, the draft budget bill must be adopted by the National Assembly and reviewed by the Senate before being submitted to King Norodom Sihamoni for final royal endorsement. (1 U.S. dollar equals 4,084 riels) ■
