Phnom Penh (FN), Dec. 26 – Cambodia's Prime Minister Hun Sen announced that the General Department of Customs and Excise and the General Department of Taxation have collected more revenue than the set target, exceeded over USD 1.4 billion.

The announcement was made at the graduation ceremony of the National University of Law and Economics (RULE) on Thursday.

“Fortunately, this year's revenue has already exceeded USD 1.4 billion over the plan. The Customs Department, as of 25 December, has collected USD 920 million beyond target, whereas Taxation collected USD 513 million over the plan,” said Prime Minister Hun Sen.

Head of the Royal Government of Cambodia confirmed that thanks to effective public financial reform, Cambodia’s tax and custom revenue have grown substantially, and that the economy expects to achieve 7.1 percent growth in 2019.

It is worth noting that international financial institutions such as the World Bank, Asian Development Bank (IMF) and International Monetary Fund (IMF) have predicted that Cambodia's economy will grow at 7 percent by 2019. The sector that has driven Cambodia's economic growth is supported by the continued growth of exports, strong domestic demand and the boom in construction.