Thursday, March 20, 2014

MoEF to Turn Public Financial System Into Effective Tool for Economic Growth

20 March 2014

Ministry of Economy and Finance (MoEF) has planned to turn the public financial system into an effective development tool to promote economic growth and to contribute to maintaining macroeconomic stability and financial stability in Cambodia.

Ministry said the establishment of budgetary units was the first step in preparing budgets, programs and strategic budget plans which were needed to be linked to the MoEF policy, based on the Rectangular Strategy – Phase III and the political platform of the government under the clear-sighted and realistic leadership of Prime Minister Hun Sen.

To develop budget programs and strategic budget plans, the MoEF set forth two policies: (1) Financial and Economic Development Management Policy, and (2) Public Finance and State Property Management Policy, and from the two policies, there are five programs aimed at supporting the effective and efficient implementation of the aforementioned policies.

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