2023Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure Authorized2023FROM SPENDING MORE TO SPENDING BETTERCAMBODIAPUBLIC FINANCE REVIEW© 2023 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reservedThis work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and PermissionsThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Attribution—Please cite the work as follows: “World Bank. 2023. Cambodia Public Finance Review: From Spending More to Spending Better. © World Bank.” All queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org.Report No: AUS0003416Cambodia Public Finance Review - From Spending More to Spending Better iCONTENTSGlossary of acronyms .............................................................................................................................viiiAcknowledgment ...................................................................................................................................... xiExecutive summary ................................................................................................................................... 1Chapter 1. Achieving fiscal resilience and maximizing fiscal space .................................................. 181.1. Introduction ............................................................................................................................... 181.2. Recent macroeconomic trends .................................................................................................. 191.3. Revenue .................................................................................................................................... 201.4. Expenditure .............................................................................................................................. 221.5. Fiscal balance ........................................................................................................................... 241.6. Public debt ......................................................................................................
