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Sep, 2017

High Commitment from Political level, Strong Cooperation from Line Ministries and Stakeholders made Cambodia’s PFMRP Successful

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Phnom Penh 19th September 2017: H.E Vongsey Vissoth, Secretary of State of Ministry of Economy and Finance spoke to development partners, national and international delegates that Cambodia’s public financial management reform program (PFMRP) has only one goal is to offer maximum benefits to Cambodian citizens. H.E added that PFMRP has been up-and-running because of the support from the royal government of Cambodia at political level, the involvement in implementation from line ministries and society plus all stakeholders.”

H.E stated that in a closing session of international workshop on lessons from public financial management/public sector reform: Leveraging Experimenting Approaches for Sustainability of Cambodia’s Public Financial Management Reform on September 14-15 2017, participated by line ministries, capital-provincial economy and finance departments, experts as well as local and international stakeholders on public finance sector in total of around 200 participants.

With that note, H.E George Edgar, European Union Ambassador to Cambodia applauded the royal government of Cambodia on the success of PFMRP which includes the implementation of program budgeting enabled a more accountable budget implementation. Phase I implementation has been successful because capital-provincial treasuries is utilizing FMIS solely for their records on financial transactions as well as the establishment of effective revenue collection strategies helping to increase the revenue from 15.3% to 18.5% per GDP in 2013 and 2016.

PFMRP in Cambodia has been recognized as a tremendous success that Cambodia should be proud of. Likewise, Mr. Robert Taliercio, Practice Manager of World Bank has emphasized in the workshop that he has been giving consultations to Cambodia’s PFMRP since 2004. This time around when he is in Cambodia, he can see that the PFMRP has been very developed.

He added that “Based on my experience on public finance reform works for many years, I observed that Cambodia is a country which has implemented this reform program successfully and faster than other countries in the region. This is because this reform program has been established with clear goal, vision, and mission from top to bottom level and all stakeholders.”