Cambodia’s budget revenue reaches 2 billion USD in four months
Cambodia collected 8,42 billion riel (about 2 billion USD) in national revenue in the first four months of 2020, up 10 percent against the same period last year.
PhnomPenh (VNA) – Cambodia collected 8,42 billion riel (about 2 billion USD)in national revenue in the first four months of 2020, up 10 percent against thesame period last year.
Local media on June 5 quoted the Cambodian Ministry of Economy and Finance,saying that of the aforementioned budget revenue, tax revenue reached about 7.1billion riel (about 1.7 billion USD).
The country spent 7,2 billion riel (about 1.7 billion USD) in the period, ayear-on-year increase of 31 percent, the ministry said.
Earlier, in March, to alleviate the shock caused by the COVID-19 pandemic tothe national economy, the Cambodian government announced a reserve budget worth2 billion USD to help the country's economic pillars, as well as support thoseworking in the textiles and tourism sectors, who lost their jobs.
However, the International Monetary Fund (IMF)has forecasted that Cambodia's gross domestic product (GDP) will experience negative growth of 1.7 percent in 2020./.
Tourist destinations across Cambodia welcomed nearly 400,000 visitors during the first three weeks of May, said the country’s Minister of Tourism Thong Khon.
The Garment Manufacturers Association in Cambodia (GMAC), the Cambodia Footwear Association (CFA) and the European Chamber of Commerce in Cambodia (EuroCham) on June 2 requested the European Commission to postpone its withdrawal of the ‘Everything But Arms’ (EBA) preferential trade scheme for 12 months so that the apparel, footwear and travel goods sectors recover.
The National Assembly of Cambodia on June 4 adopted two draft laws on anti-money laundering (AML) and counter-terrorist financing (CFT) and on combating the financing of weapons of mass destruction (WMD) proliferation.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.