PHNOM PENH: The Royal Government of Cambodia has collected 20,160 billion Riel (approximately US$4.9 billion) as domestic revenue in the first ten months of this year, a 2 percent decrease compared to the same period last year, a report of the Ministry of Economy and Finance showed.

The government earned US$4.4 billion in tax revenue, down 4.2 percent, and US$482 million in non-tax revenue, up 24 percent, the same source pointed out.

The tax revenue collection represents 77.4 percent of the 2023 target, and the non-tax revenue hit 92.7 percent of the whole year target, it stated.

“Based on the trend of revenue performance over the last several years mixed with the recovery of Cambodia's socio-economic activities, revenue collection is on track according to the 2023 Budget Law,” the ministry said.

The government's expenditure reached 26,042 billion Riel, equivalent to 74.95 percent of the 2023 Budget Law, a 19.45 percent increase compared to the same period last year, it added.

The Royal Government continues to manage and utilize the Budgetary Central Government (BCG)'s total financing effectively and carefully, which has allowed the need for budget execution to be met in a timely manner, the ministry said in the report.