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The reform strategy developed by the Ministry of economy and finance and endorsed by the Prime Minister on 30th June, 2004 set an overarching framework for the reform of public financial management systems in Cambodia. Part of that strategy was a statement of the characteristics of the public financial management system that the Royal Government of Cambodia aims to introduce. These characteristics were:


Budget Formulation Characteristics

  • The PFM system is designed to seek performance, both in the use of public resources and in the achievement of policy results through sound public finance management. It seeks maximum value for money over time from the use of government resources. Good performance is rewarded and offences are detected and prosecuted.
  • There is clear legal separation of functions and fiscal powers for the national and sub-national levels, yet within a unified budget system that covers all government offices, functions, programs and projects.
  • A consistent analytical framework across all sectors, with budget transactions classified on an administrative, economic, and functional or programmatic basis which identifies poverty-related spending and which supports a general orientation of public expenditure management towards the achievement of policy results.
  • The budget is set within a realistic and sustainable multi-year framework that governs multi-year programming.
  • The budget is comprehensive and covers all aspects of government operations, including longer term budget financing and debt management planning, and resourcing plans which include all of the government sector’s financial, fixed and other assets with its liabilities.
  • Budget formulation is responsive to the government’s policies and programs which could have the implication on the composition, incentives, size, training, deployment and other staffing implications of the government’s policies and programs. The budget system also ensures that post-budget supplementary expenditure credits are fully financed.

Budget Execution Characteristics


Monitoring and Review Characteristics