Phnom Penh (FN), Oct. 22 – The Royal Government of Cambodia has set USD 8.5 billion as the budget for expenditure in 2022, an increase of 8.4 percent compared to 2021, according to draft budget law 2022.

The draft budget law 2022 was adopted in the plenary session of the Council of Ministers, held Friday at the Peace Palace.

In 2022, the Royal Government expects to generate USD 6.3 billion in revenue, an increase of 19.3% compared to 2021.

The draft budget law 2022 is designed to effectively allocate resources to deal with COVID19 crisis and to support the sustainability of the national operations, which include the restoration of people's livelihoods and Cambodia's socio-economic development.

It also aims to continue to preserve the social achievements over the past two decades and to address other issues, as well as to withstand negative impacts caused by internal and external challenges.

The socio-economic development includes COVID19 management , generating jobs for local people, improving business environment by boosting investor’s confidence, developing human resources and physical infrastructure, improving the quality of public services, improving the efficiency and effectiveness of public institutions, improving people's well-being, developing social protection systems and promoting economic digitalization and diversification, as well as enhancing productivity, efficiency and competitiveness in Cambodia.
=FRESH NEWS