PHNOM PENH, Nov. 15 (Xinhua) -- The National Assembly of Cambodia on Thursday approved the budget of 6.7 billion U.S. dollars for the government's expenditure in 2019, up 11.4 percent compared to that of 2018.
A total of 113 lawmakers, who were present at the parliamentary session, unanimously passed the budget bill.
The National Assembly consists of 125 lawmakers, who are all from the ruling Cambodian People's Party (CPP) of Prime Minister Samdech Techo Hun Sen.
Minister for Economy and Finance Aun Pornmoniroth said the government's expenditure next year is equal to 24.72 percent of the kingdom's gross domestic product (GDP).
"The budget for 2019 is very important to maintain peace, stability, and socio-economic development," he told the assembly. "It is also to ensure the economic growth of around 7 percent per annum."
According to the bill, about 605 million U.S. dollars will be allocated to general administration for 2019, up 0.4 percent from 2018.
Roughly 1.1 billion U.S. dollars will go to national defense, security, and public order, up 10.5 percent.
Social sector will get 1.78 billion U.S. dollars, up 3.4 percent, and the economy-driven sector will receive 1.62 billion U.S. dollars, up 16.8 percent.
The ministries of education, health, and transport will receive 899 million U.S. dollars, 447 million U.S. dollars and 736 million U.S. dollars, respectively for next year's expenditure.
To meet the spending, the government is expected to earn gross revenue of about 6.57 billion U.S. dollars next year, an increase of 14.4 percent from this year, the bill said.
The government has also planned to borrow another 1.9 billion U.S. dollars from friendly countries and development partners next year to develop energy sector, agriculture and irrigation system, and transport infrastructure. Enditem
