Phnom Penh (FN), Oct. 27 – The Draft Law on Budget Management 2024, also known as the National Budget Law 2024, was fully approved by the Royal Government at the weekly cabinet meeting on Friday morning (Oct. 27) at the Peace Palace.

The draft budget law has five chapters and 14 Articles, prepared in the context that the CPP-led Royal Government continues to gain overwhelming confidence from the people to lead the country for the next five years.

In 2024, the Royal Government plans to spend a total of more than USD 9 billion, equivalent to 24.13 per cent of growth domestic product (GDP).

The 2024 budget management is an effective tool for the Royal Government to respond to both challenges and risks, both internally and externally.

During the reviewing process, Samdech Thipadei Hun Manet requested all institutions to jointly implement the 2024 budget framework effectively, and considered 2024 as a year to evaluate and allocate the government's expenditures more effectively and on the right target.
=FRESH NEWS