Information about Asia and the Pacific Asia y el Pacífico
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Cambodia

Author(s):
International Monetary Fund
Published Date:
May 1999
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Table 1.Cambodia: Gross Domestic Product by Sector, 1994-98
19941995199619971998
Est.
(In billions of riels at current prices)
Agriculture3,1403,7534,1884,6175,443
Crops and rubber1,8532,3742,6312,8483,371
Rice9611,3541,4781,5901,896
Rubber and other crops8911,0201,1531,2581,475
Livestock8039221,0651,2081,443
Fishery158197220235222
Forestry326260272326407
Industry8539991,2731,3461,587
Mining and quarrying1822282933
Manufacturing325367441523665
Electricity and water4450637795
Construction467560741716794
Services2,1382,4482,7903,1383,720
Transport and communication195248292344445
Wholesale and retail trade8781,0071,1551,2851,530
Hotels and restaurants3135465152
Government services232269266297344
Home ownership336384432477558
Other services466505598685791
Gross domestic product6,1317,2008,2519,10010,750
(Percent change from previous period)
Agriculture14.519.511.610.217.9
Crops and rubber7.528.110.88.218.4
Rice−5.540.89.27.619.2
Rubber and other crops26.114.513.09.117.3
Livestock18.514.815.513.419.5
Fishery12.524.711.96.7−5.4
Forestry63.1−20.24.519.924.7
Industry14.817.127.55.717.9
Mining and quarrying8.527.926.82.115.3
Manufacturing13.812.920.118.827.1
Electricity and water13.014.327.421.822.9
Construction15.919.932.3−3.410.8
Services10.914.514.012.518.6
Transport and communication12.926.818.017.529.6
Wholesale and retail trade11.514.614.711.219.1
Hotels and restaurants25.715.530.59.53.0
Government services7.516.0−1.111.415.9
Home ownership7.814.212.610.517.0
Other services12.08.518.314.515.4
Gross domestic product13.217.414.610.318.1
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Table 2.Cambodia: Real Gross Domestic Product by Sector, 1994-98
19941995199619971998
Est.
(In billions of riels at 1989 prices)
Agriculture137.1145.9149.5151.4152.0
Crops and rubber70.982.283.583.385.0
Rice38.647.948.046.847.5
Rubber and other crops32.434.335.536.437.5
Livestock39.541.144.246.448.4
Fishery11.812.212.111.98.9
Forestry14.910.49.79.89.6
Industry55.761.172.370.271.0
Mining and quarrying3.74.04.84.54.5
Manufacturing22.124.327.529.631.3
Electricity and water0.70.80.91.11.2
Construction29.132.039.135.033.8
Services111.0119.7128.0131.8130.4
Transport and communication9.710.711.812.413.0
Wholesale and retail trade44.848.853.354.751.9
Hotels and restaurants1.71.82.22.11.9
Government services12.512.912.712.812.3
Home ownership20.321.823.123.624.1
Other services22.123.725.026.127.1
Gross domestic product303.7326.8349.8353.3353.3
(Percent change from previous period)
Agriculture0.06.52.41.20.4
Crops and rubber−8.115.91.6−0.22.1
Rice−20.024.20.2−2.41.4
Rubber and other crops11.66.03.62.73.0
Livestock4.04.07.55.04.3
Fishery−2.04.0−0.9−2.0−24.7
Forestry50.0−30.0−6.61.1−2.0
Industry7.79.818.3−2.91.1
Mining and quarrying9.08.018.6−5.50.5
Manufacturing7.910.012.97.76.0
Electricity and water7.08.021.314.915.1
Construction7.410.022.4−10.5−3.4
Services7.47.96.93.0−1.0
Transport and communication9.510.010.35.35.3
Wholesale and retail trade5.99.09.22.7−5.2
Hotels and restaurants20.010.019.3−2.5−9.2
Government services8.03.5−1.81.1−3.7
Home ownership7.87.55.82.32.0
Other services8.27.25.54.53.9
Gross domestic product4.07.67.01.00.0
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Table 3.Cambodia: Sectoral Contribution to GDP at Constant 1989 Prices, 1994-98(In percent)
19941995199619971998
Est.
Agriculture45.144.742.742.843.0
Crops and rubber23.425.223.923.624.1
Rice12.714.713.713.313.4
Rubber and other crops10.710.510.110.310.6
Livestock13.012.612.613.113.7
Fishery3.93.73.53.42.5
Forestry4.93.22.82.82.7
Industry18.318.720.719.920.1
Mining and quarrying1.21.21.41.31.3
Manufacturing7.37.47.88.48.9
Electricity and water0.20.20.30.30.4
Construction9.69.811.29.99.6
Services36.536.636.637.336.9
Transport and communication3.23.33.43.53.7
Wholesale and retail trade14.714.915.215.514.7
Hotels and restaurants0.60.60.60.60.6
Government services4.13.93.63.63.5
Home ownership6.76.76.66.76.8
Other services7.37.37.17.47.7
Gross domestic product100.0100.0100.0100.0100.0
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Table 4.Cambodia: Deflators for Gross Domestic Product by Sector, 1994-98(Percent change from previous period)
19941995199619971998
Est.
Agriculture14.512.38.98.917.4
Crops and rubber17.010.69.18.515.9
Rice18.113.49.010.217.6
Rubber and other crops13.08.09.16.313.9
Livestock13.910.47.48.014.6
Fishery14.819.912.98.925.6
Forestry8.714.011.918.627.2
Industry6.66.67.78.916.7
Mining and quarrying−0.418.46.98.014.7
Manufacturing5.52.66.410.319.9
Electricity and water5.65.85.06.06.8
Construction7.99.08.18.014.7
Services3.26.26.69.219.8
Transport and communication3.115.36.911.623.1
Wholesale and retail trade5.35.25.08.325.6
Hotels and restaurants4.85.09.312.313.4
Government services−0.512.10.710.220.4
Home ownership0.06.26.48.014.7
Other services3.51.212.29.611.1
Gross domestic product8.99.27.19.218.1
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.
Table 5.Cambodia: Agriculture, Livestock, and Fishery Production, 1994-98
Unit19941995199619971998
(’000)Est.
Agriculture1/
RiceTons2,2233,4483,4043,4153,438
CornTons4555654253
CassavaTons6582706939
Sweet potatoTons3639382924
VegetablesTons197193250177165
MungbeanTons1720141514
GroundnutTons57676
SoybeanTons2317285651
SesameTons44546
Sugar caneTons219203171188147
TobaccoTons121151010
JuteTons21022
RubberTons3134464238
Livestock
CowsHeads2,6222,7782,7622,8202,879
BuffalosHeads814765744693694
PigsHeads2,0022,0392,1512,4382,339
PoultryHeads10,09410,06711,41212,09812,815
Fishery
Fresh fish and shrimpTons103113104108120
CrocodilesHeads615201740
Source: Data provided by the Cambodian authorities.

Harvest year for crops; tons are metric tons.

Source: Data provided by the Cambodian authorities.

Harvest year for crops; tons are metric tons.

Table 6:Cambodia: Aggregate Demand, 1994-98
19941995199619971998
Est.
(In billions of riels at current prices)
Aggregate expenditure7,7699,46311,00912,22614,883
Consumption5,8866,9177,4928,32310,368
Private5,2126,2286,6797,5079,408
Public674690813816960
Investment1,1341,5702,1371,7291,613
Private7991,0591,6071,2771,231
Public335511530452382
Exports of GNFS (retained)7499751,3802,1742,903
Aggregate resources7,7699,46311,00912,22614,883
Gross domestic product6,1317,2008,2519,10010,750
Imports of GNFS (retained)1,6382,2622,7583,1264,133
(In percent of GDP)
Consumption96.096.190.891.596.4
Private85.086.580.982.587.5
Public11.09.69.99.08.9
Exports of GNFS (retained)12.213.516.723.927.0
Imports of GNFS (retained)−26.7−31.4−33.4−34.4−38.4
Domestic investment18.521.825.919.015.0
Private investment13.014.719.514.011.4
Government investment5.57.16.45.03.6
National saving4.85.010.610.55.8
Government saving−1.4−0.6−0.80.6−0.7
Private saving6.25.611.49.96.5
Current account
Including official transfers−3.9−5.1−5.7−1.7−0.8
Excluding official transfers−13.7−16.8−15.3−8.5−9.2
Sources: Unofficial estimates provided by the Ministry of Economy and Finance; and Fund staff estimates.
Sources: Unofficial estimates provided by the Ministry of Economy and Finance; and Fund staff estimates.
Table 7.Cambodia: Consumer Price Index, 1991-98 1/
U. S. Dollar-based CPI
National BankNational Institute of StatisticsNational BankNational Institute of Statistics
Index (Mar. 1988-100)Quarterly Change in PercentIndex (Sep. 1994-100)Quarterly Change in PercentParallel Market Exchange Rate 2/Index 3/ (Mar. 1991-100)Quarterly Change in PercentIndex 3/ (Sep. 1994-100)Quarterly Change in Percent
1991
Mar.95257.5691100.039.7
Jun.1,13719.590591.2−8.8
Sep.1,76855.41,125114.125.1
Dec.1,136−35.8550149.931.4
1992
Mar.1,36119.8935105.7−29.5
Jun.1,97144.91,275112.26.2
Sep.3,22463.62,142109.2−2.6
Dec.3,143−2.52,31098.8−9.6
1993
Mar.6,00491.04,000108.910.3
Jun.5,651−5.92,800146.534.5
Sep.4,832−14.52,673131.2−10.4
Dec.4,117−14.82,450122.0−7.0
1994
Mar.4,2994.42,527123.51.4
Jun.4,5886.72,542131.06.1
Sep.5,06410.4100.02,626140.06.8100.0
Dec.5,1922.5104.24.22,601144.93.5105.25.2
1995
Mar.4,794−7.7100.3−3.72,392145.50.4110.14.7
Jun.5,0304.9101.10.82,371154.05.9112.01.7
Sep.5,4638.6107.05.82,530156.71.8111.1−0.8
Dec.5,197−4.9105.3−1.62,560147.4−6.0108.1−2.7
1996
Mar.105.70.42,591107.2−0.8
Jun.107.71.92,667106.1−1.0
Sep.113.35.12,724109.22.9
Dec.115.92.32,728111.62.2
1997
Mar.111.7−3.72,739107.0−4.1
Jun.115.63.62,769109.72.4
Sep.126.69.53,313100.3−8.5
Dec.126.60.03,51994.5−5.8
1998
Mar.130.32.93,61394.70.2
Jun.137.55.54,04789.2−5.8
Sep.143.04.03,87696.98.6
Dec.143.40.33,79199.32.5
Sources: Based on data provided by the Cambodian authorities.

In January 1996, the National Institute of Statistics’ CPI became the official price index in lieu of that of the National Bank of Cambodia.

Riel per U.S. dollar, end-period buying rate.

Riel - based consumer price indices divided by the parallel market exchange rate.

Sources: Based on data provided by the Cambodian authorities.

In January 1996, the National Institute of Statistics’ CPI became the official price index in lieu of that of the National Bank of Cambodia.

Riel per U.S. dollar, end-period buying rate.

Riel - based consumer price indices divided by the parallel market exchange rate.

Table 8.Cambodia: National Institute of Statistics Consumer Price Index, 1996-98 1/(Base: July - September 1994 = 100)
199619971998
January105.1111.9128.9
February107.3112.3129.9
March105.7111.7130.3
April107.3114.1131.2
May107.8114.9134.7
June107.7115.6137.5
July112.1123.5141.8
August112.7122.4139.5
September113.3126.6143.0
October117.5127.9143.7
November116.7127.5143.1
December115.9126.6143.4
Average for 12-month period110.8119.6137.3
Memorandom items:
Rate of inflation
(Final quarter basis)9.09.112.6
Rate of inflation
(End of period)10.19.213.3
Source: Data provided by the Cambodian suthorities.

Adopted by the authorities as the official consumer price index from January 1996.

Source: Data provided by the Cambodian suthorities.

Adopted by the authorities as the official consumer price index from January 1996.

Table 9.Cambodia: General Government Operations, 1995-99
19951996199719981999
ActualActualActualEstimated outcomeAdi. Budget 1/
In billions of rielsPercent of GDPIn billions of rielsPercent of GDPIn billions of rielsPercent of GDPIn billions of rielPercent of GDPIn billions of rielPercent of GDP
Total revenue643.08.9749.19.1881.09.7917.98.51224.010.1
1. Tax revenue445.56.2534.36.5597.46.6679.36.3853.37.0
Direct taxes20.90.326.50.343.60.555.50.581.00.7
Indirect taxes103.81.4163.72.0206.52.3247.52.3331.62.7
o.w. Excise taxes9.00.156.60.774.10.876.00.780.00.7
VAT167.71.4
Trade taxes320.84.5344.14.2347.33.8376.33.5440.73.6
2. Nontax revenue189.82.6175.62.1271.33.0205.41.9345.72.8
3. Capital revenue7.70.139.20.512.30.133.20.325.00.2
Total expenditure (Cash)1200.616.71342.816.31267.813.91342.112.51485.012.2
1. Current expenditure689.69.6812.99.9815.99.0960.18.91105.09.1
Wages325.74.5350.84.3385.84.2458.74.3501.84.1
Civil administration110.91.5130.21.6132.91.5161.01.5186.81.5
Defense and security214.83.0220.62.7252.92.8297.72.8315.02.6
Non-wage363.85.1462.15.6420.64.6487.04.5540.44.5
Operating expenditures284.44.0344.94.2325.23.6348.03.2395.93.3
Civil administration105.21.5172.22.1161.91.8194.61.8264.82.2
Defense and security179.22.5172.72.1163.31.8153.41.4131.11.1
Economic transfers14.50.216.10.26.60.115.00.143.80.4
Social transfers44.80.663.90.868.60.872.20.793.90.8
Civil administration40.60.657.30.760.50.765.50.684.20.7
Defense and security4.20.16.60.18.10.16.70.19.70.1
Interest1.90.012.80.29.50.114.40.112.80.1
Contingency--------0.00.00.00.00.00.0
Other current expenditure18.30.324.30.320.20.251.80.56.80.1
Reserve funds50.00.4
2. Capital expenditure 2/511.17.1529.96.4451.95.0382.03.6380.03.1
Locally financed56.90.861.60.7110.31.299.10.9180.01.5
of which:
Local currency counterpart6.40.117.30.220.00.230.00.2
Externally financed454.26.3468.35.7341.63.8282.92.6200.01.6
CURRENT BALANCE (Cash)−46.5−0.6−63.8−0.852.80.6−75.4−0.794.00.8
OVERALL BALANCE (Cash)−557.7−7.7−593.7−7.2−386.8−4.3−424.2−3.9−261.0−2.2
FINANCING557.77.7−593.7−7.2386.84.3424.23.9261.02.2
1. Foreign financing (net)559.37.8575.67.0447.84.9285.72.7248.22.0
of which:
Project aid450.76.3467.15.7350.83.9284.92.7200.01.6
Budget support81.81.1149.91.896.01.10.80.050.00.4
Nonconcessional loans39.40.5----------------
Amortization−41.5−0.6−41.5−0.5−1.00.00.00.0−1.80.0
2. Domestic financing−1.60.018.10.2−61.0−0.7138.51.312.80.1
Bank financing5.50.1−17.0−0.2−75.3−0.8124.71.2−13.2−0.1
Nonbank−7.1−0.135.20.414.30.213.80.126.00.2
Memorandum items:
Defense and security outlays398.25.5399.94.8424.34.7457.84.3455.83.8
Revenue from forestry71.41.033.20.440.60.422.80.251.40.4
GDP7,2008,2519,10010,75012,130
Source: Data provided by Cambodian Authorities.

Budget estimates adjusted by Fund staff for the estimated impact of measures announced in January 1999.

Includes technical assistance.

Source: Data provided by Cambodian Authorities.

Budget estimates adjusted by Fund staff for the estimated impact of measures announced in January 1999.

Includes technical assistance.

Table 10.Cambodia: Structure of Revenue, 1995-98(In billions of riels)
1995199619971998
Est.
Total revenue643.0749.1881.0917.9
Tax revenue445.5534.3597.4679.4
Direct taxes20.926.543.655.5
Wage tax1.12.75.78.5
Profit tax17.821.635.042.1
Public enterprises5.83.06.47.2
Private enterprises12.018.628.634.9
Property tax1.22.12.64.7
Tax on agricultural activity0.10.00.00.0
Tax on unutilized land0.00.00.30.2
Other income taxes0.70.00.00.0
Indirect taxes103.8163.7206.5247.5
Turnover tax17.127.446.565.9
Public enterprises2.23.03.04.1
Private enterprises14.934.743.561.8
Consumption tax60.070.475.290.1
Business licence tax1.31.71.92.1
Excise taxes9.056.674.176.1
Slaughter tax0.30.50.30.5
Vehicle licence tax4.83.33.77.1
Holiday tax0.20.00.00.0
Inheritance tax1.81.60.00.0
Stamp tax0.11.01.01.0
Penalties0.61.01.02.0
Tax on illegally imported cars8.30.30.10.0
Airport tax0.00.00.00.0
Other indirect taxes0.10.00.02.7
Taxes on international trade320.8344.1347.3376.3
Taxes and duties on imports300.8334.8335.8372.5
Import tariffs (non-petroleum)218.8245.6209.8218.8
Fees on petroleum products1.71.81.82.0
Import fees0.05.06.18.0
Import tariffs on petroleum80.399.7117.8143.6
Other0.10.10.30.1
Taxes on exports17.38.19.92.7
Penalties2.71.21.71.1
Nontax revenue189.8175.6271.3205.4
Receipts on public property120.591.6134.180.5
Fisheries9.17.17.48.2
Forests52.827.537.422.8
Receipts from public enterprises26.737.936.431.3
Factory leases5.910.18.48.7
Amortization payments0.53.94.04.0
Surplus on working capital1.20.00.00.0
Operating surpluses of public enterprises1.40.00.00.0
Civil aviation10.817.117.117.7
Tourism receipts0.13.61.01.2
Sale of material0.62.70.20.1
Transportation fees0.30.50.20.2
Receipts from commercial activity3.40.00.00.0
Sales of electricity to provinces0.00.50.10.1
Receipts from water supply0.06.30.80.1
Other2.50.34.40.3
Royalties and concessions17.05.133.11.5
Petroleum concessions0.70.631.60.3
Mining concessions0.20.00.41.2
Others16.14.51.10.0
User fees6.56.96.66.5
Building leases6.23.012.68.1
Other2.02.10.51.0
Other nontax revenue69.384.0137.1124.9
Posts and telecommunication54.463.683.087.2
Advertising fees0.00.40.00.0
Public services10.516.346.017.8
Of which:
Visa fees5.08.023.82.9
Timber export licence fee1.30.00.00.0
Customs documentation fees1.30.81.31.2
Interest0.80.00.00.0
Nontax revenue of provinces1.63.00.11.0
Other nontax revenue2.11.18.018.9
Capital revenue7.739.212.333.2
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 11.Cambodia: Budgetary Expenditure by Economic Classification, 1995-98 1/
1995199619971998
est.
(In billions of riel)
Salaries325.7350.8385.8458.7
Operating costs284.4344.9325.2348.0
Social transfers44.863.968.672.2
Economic transfers14.516.16.615.0
Capital expenditure511.1529.9451.9382.0
Other 2/20.235.629.866.2
Total1,200.61,342.81,267.81,342.1
(In percent of total expenditure)
Salaries27.124.330.434.2
Operating costs23.723.625.625.9
Social transfers3.74.25.45.4
Economic transfers1.31.10.51.1
Capital expenditure42.544.335.628.5
Other 2/1.72.52.44.9
Total100.0100.0100.0100.0
(In percent of GDP)
Salaries4.54.34.24.3
Operating costs3.94.23.63.2
Social transfers0.60.70.70.7
Economic transfers0.20.20.10.1
Capital expenditure7.16.45.03.6
Other 2/0.30.40.30.6
Total16.716.313.912.5
Source: Data provided by the Cambodian authorities.

Budget presentation (payment-order basis).

Includes interest payments and subsidies to provinces.

Source: Data provided by the Cambodian authorities.

Budget presentation (payment-order basis).

Includes interest payments and subsidies to provinces.

Table 12.Cambodia: Budgetary Expenditure by Ministry, 1996-1998
199619971998
TotalSalariesOperatingOtherCapitalTotalSalariesOperatingOtherCapitalTotalSalariesOperatingOtherCapital
MinistryCostsCostsCosts
(In billions of riels)
Total1,3433513451175301,3103843221045011,003431329139104
Royal Palace167360165470134270
National Assembly107300118300129300
Council of Ministers35320754632441157731163
Foreign Affairs2551820219111026111320
National Defense298207856030520396702982009360
Interior13047671601415587101668466160
Economy and Finance37435243433343117315822181250
Information61400513001613011
Public Works942302061013134117
Agriculture63511246247718187813
Justice312003120021100
Education17263212861566517271102802020
Commerce412106111321100
Industry911704111131110
Planning211002110021100
Health122124636294103414933102111
Tourism311102010021100
Religious Affairs111001110011000
Posts and Telecommunication29227005312502653228024
Culture and Fine Arts422004210032100
Social Affairs451242051114624811451
Environment312002110011100
Rural Development312003110161104
Women’s Welfare101001010010000
Constitutional Board10000
Nat. election Committee28013150
Other1400140
(In percent of total budgetary expenditure)
Memorandum items:
National Defense225526502353306030462840
Interior10132113011142710172020110
Economy and Finance271120632613663815848
Public Works1113022003110I6
Agriculture51318222I222213
Education13176216121752141019620
Industry100500001000000
Health9314211731111032600
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 13.Cambodia: Official External Assistance to the Budget, 1995-98(In billions of riels)
1995199619971998
Est.
Total official external financing532.5617.0446.7235.6
Budget support81.8150.095.90.8
Grants42.150.046.20.8
Loans39.7100.049.70.0
World Bank39.762.57.20.0
AsDB0.037.542.50.0
Project aid450.7467.0350.8234.8
Grants345.7406.7244.671.9
Loans105.0160.3106.2162.9
World Bank20.551.387.256.7
AsDB84.5109.019.0106.2
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 14.Cambodia: Civil Servants by Ministry, 1997-98(As of December 31, 1998)
TotalCentral GovernmentProvincial Government
NumberPercentNumberPercentNumberPercent
199719981997199819971998199719981997199819971998
Education, Youth and Sports75,57378,07851.549.82,7693,0789.39.272,80475,00062.360.9
Health16,46118,25811.211.63,7563,85212.611.512,70514,40610.911.7
Agriculture11,12411,3167.67.24,6434,70315.514.06,4816,6135.55.4
Interior7,7099,4255.26.03814421.31.37,3288,9836.37.3
Transport and Communication5,8635,9734.03.82,1032,2487.06.73,7603,7253.23.0
Economy and Finance5,2305,4213.63.54,1004,35913.713.01,1301,0621.00.9
Culture and Fine Arts3,5803,6642.42.31,1621,7325.45.21,9591,9321.71.6
Industry2,5062,4261.71.58368462.82.51,6701,5801.41.3
Information2,4762,5721.71.61,4131,3914.74.11,0631,1810.90.9
Social Affairs, Youth Formation2,1902,2211.51.46226662.12.01,5681,5551.31.3
Royal Palace3323020.20.23323021.10.9000.00.0
Relations with National Assembly446600.30.1446601.50.2000.00.0
Rural Development1,9062,0491.31.34695291.61.61,4371,5201.21.2
Commerce1,9981,9001.41.29179943.13.01,0819060.90.7
Post and Telecommunication2,0212,0351.41.31,2811,3494.34.07406860.60.6
Planning1,5781,7411.11.14946001.71.81,0841,1410.90.9
Religious Affairs6947090.50.52151980.70.64795110.50.4
Tourism8219760.60.64685121.61.53534640.30.4
Justice1,0851,2600.70.85085391.71.65777210.60.6
Environment7259350.50.63613811.21.13645540.30.4
Foreign Service5158080.30.55158081.72.4000.00.0
Women’s Affairs & Veterans4407950.30.51491520.50.52916430.20.5
Civil Aviation4270.34271.400.00.0
Council of Ministers1,0443,2350.72.01,0443,2353.59.6000.00.0
National Assembly5230.35231.6000.00.0
Constitutional Board04900.104901.5000.00.0
Total146,744156,731100.0100.023,87033,548100.0100.0116,874123,183100.0100.0
Source: Data provided by the Cambodian authorities
Source: Data provided by the Cambodian authorities
Table 15.Cambodia: Profile of the Commercial Bank System, December 1998
Name of BanksNo. of BranchesAuthorized Capital (000 U.S.$)Date of OperationMajority Shareholder
State-owned banks (2)
Foreign Trade Bank385 million rielsOct. 10, 1979
Rural Development Bank10 billion rielsJun. 22, 1998
Foreign bank branches (7)
Krung Thai Bank5,000Sep. 25, 1992Thai
Bangkok Bank5,000Sep. 26, 1992Thai
Thai Farmers Bank5,000Aug. 21, 1992Thai
Credit Agricole Indosuez5,000Mar. 1, 1993French
May Bank5,000Dec. 28, 1993Malaysian
P. T. Lippo Bank10,000Oct. 16, 1996Indonesian
First Commercial Bank13,000Sep. 23, 1998Taiwan
Private banks (22)
Cambodia Commercial Bank310,000Jul. 1, 1991Thai
Canadia Bank65,000Nov. 11, 1991Canadian
Agricultural and Commercial Bank5,000Jul. 9, 1992Thai
Cambodia Public Bank10,000May. 25, 1992Malaysian
Cambodia Farmers Bank15,000Apr. 5, 1992Thai
Cambodia Asia Bank10,000Feb. 23, 1993Malaysian
Chansavangwonk Banking Corp.5,000May. 19, 1993Thai
Phnom Penh City Bank 1/5,000Sep. 15, 1993Thai
Singapore Banking Corp.5,000Oct. 27, 1993Singaporean
Singapore Commercial Bank 1/5,000Dec. 25, 1993Singaporean
Rich Nation Bank5,000Jan. 25, 1994Hong Kong
Union Commercial Bank5,000Apr. 20, 1994Hong Kong
Global Commercial Bank5,000Apr. 26, 1994Thai
Pacific Commercial Bank97,000May 28, 1994Cambodian
First Overseas Bank25,000May 30, 1994Malaysian
Great International Bank5,000May 30, 1994Australian
Emperor International Bank10,000May 31, 1994Hong Kong
Cambodia Mekong Bank10,000Jun. 4, 1994Cambodian
Cambodia International Bank5,000Jun. 30, 1994Singaporean
Agricultural, Industrial and Merchandise Bank10 billion rielsJun. 29, 1996Japanese
Advanced Asia Bank7,500Oct 25, 1996Korean
Angkor Bank10 billion rielsFeb. 4, 1998Cambodian
Source: Data provided by the Cambodian authorities.

In operation without renewal of license.

Source: Data provided by the Cambodian authorities.

In operation without renewal of license.

Table 16.Cambodia: Monetary Survey, 1996-98(In billions of riels)
199619971998
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.
Net foreign assets8819588889281,1721,1461,6461,6841,725
National Bank5355705926998088451,3561,3821,422
Assets7237537779091,0331,0761,6101,6331,676
Liabilities188183185210225231254251254
Deposit money banks (DMBs)346388295230363301290302303
Assets507547487434564526572518528
Liabilities162159192204200225282216225
Net domestic assets312114−26−109−75−565−604−495
Net domestic credit567546574623697727871877839
Government (net)1285051355480129175179
Public enterprises555666766
Private sector435490518582637641735696655
Other items (net)−536−525−560−649−805−802−1,435−1,481−1,334
Capital−656−688−720−883−994−970−1,588−1,649−1,528
National Bank−201−214−225−319−392−370−909−937−839
DMBs−455−474−494−564−603−600−679−713−689
Other119163160234189168153168194
Broad money9129799029021,0631,0711,0811,0811,230
Narrow money329333331349385415429475544
Currency in circulation300304304318356384395441509
Demand deposits292926312931333335
Quasi-money583646571554678657653606686
Time deposits8911101311141520
Foreign currency deposits575637561543665646639591666
Memorandum items:
Net foreign assets (in millions of U.S. dollars)325350322291339320411440456
Deposit money banks1271421077210584727980
National Bank197208215219234236339361376
Gross assets267275282285299300403426443
Gross liabilities696767666564646567
(in millions of SDRs)484848484848484848
Foreign currency deposits
(in millions of U.S. dollars)212233203170193180160154176
Credit to private sector
(in millions of U.S. dollars)160179188182184179184182173
Nominal GDP (billions of riel)8,2519,10010,750
Average stock of liquidity7819511,105
Velocity10.69.69.7
Change in net credit to government as percent of beginning period money stock−3.1−8.111.7
Exchange rates (riels/U.S. dollar)
(end of period)2,7132,7352,7613,1923,4603,5854,0003,8303,780
Source: Data provided by the Cambodian authorities
Source: Data provided by the Cambodian authorities
Table 17.Cambodia: Sources of Broad Money Growth, 1996-98
199619971998
First halfSecond halfFirst quarterSecond quarterThird quarterFourth quarterFirst quarterSecond quarterThird quarterFourth quarter
(Percent increase from previous quarter)
Broad money20.017.07.3−7.80.017.80.80.9−0.113.8
(Increase as percent of previous period broad money)
Contributions
Net foreign assets26.920.18.5−7.24.526.9−2.446.63.63.7
Net credit to government−2.9−0.2−8.50.2−1.82.12.54.64.20.3
Credit to public enterprises0.00.00.00.00.10.00.00.00.00.0
Credit to private sector6.312.86.12.87.16.10.48.8−3.5−3.9
Other items (net)−10.3−15.71.3−3.6−9.8−17.30.3−59.1−4.213.6
Source: Data provided by the Cambodian authorities
Source: Data provided by the Cambodian authorities
Table 18.Cambodia: Deposit Money Bank’s Balance Sheet, 1996-98(In billions of riels)
199619971998
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.
Net foreign assets346388295230363301290302303
Foreign assets507547487434564526572518528
Foreign liabilities162159192204200225282216225
Net domestic assets881241201731441411537172
Net claims on government−4−4−4−4−4−4−4−4−4
Claims000000000
Deposits445444444
Claims on public enterprises555666766
Claims on private sector 1/435490518582637641735696655
Net claims on National Bank21111011149141614
Claims252321212121232120
Liabilities4121110712956
Other assets (net)−369−379−408−422−509−511−599−643−599
Assets192226192264229237253237248
Fixed assets969799123110109122124120
Interbank claims598040403248292955
Other assets37485310088801028373
Liabilities561604600685738749852880847
Capital455474494564603600679713689
Restricted deposits1155444544
Interbank liabilities375633312639251629
Other57706886105104143147125
Reserves178162182181200246244266346
Cash81212101014698
Deposits at National Bank171150170172190232237256338
Deposits612675598584707687686639720
Demand deposits292926312931333335
Time and savings deposits8911101311141520
Foreign currency deposits575637561543665646639591666
Sources: Data provided by the Cambodian authorities.

Almost all in foreign currency.

Sources: Data provided by the Cambodian authorities.

Almost all in foreign currency.

Table 19.Cambodia: Reserve Money, 1996-98(In billions of riels)
199619971998
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.
Reserve money450440460482545582600663803
Currency outside banks300304304318356384395441509
Currency in banks81212101014698
Bank deposits142124144154179184198212285
Required313540424465716163
Other11189104113136119127151222
Of which: Acct 063 1/89799198126116119145215
Net foreign assets5355705926998088451,3561,3821,422
Foreign assets7237537779091,0331,0761,6101,6331,676
Gold000000469517434
Bank accounts202238268314658700435415490
Foreign exchange251810172515173941
SDR holdings393635394141424137
IMF Reserve Position000000000
Other 2/457461464539309320646622673
Foreign liabilities188183185210225231254251254
Of which: IMF188183185210225231254251254
Net Domestic Assets−85−130−132−217−263−263−757−720−619
Net credit to government1325456395884133179182
Claims214210209211211233261289289
Deposits82156153172153148128110106
Net claims on banks−85−41−38−48−51−60−69−66−68
Claims on banks9101213610777
Restricted deposits713131464356616669
Loans from DMBs2117161514141566
Due to FTBC 3/222000000
Claims on public enterprises000000000
Claims on private sector000000000
Other items (net)−132−143−150−208−270−288−821−833−734
Assets7473761111218288104105
IMF net62433506324
Intra-central bank account8871085443
Fixed and other assets545656555058597070
Contested claims121200000
Capitalized expense657111314232827
Liabilities206216226319392370909937839
Capital201214225319392370909937839
Capital and reserves117123129210272254776794697
Provisions171717202128292932
SDRs allocation605859677274828182
Income & expense account71520212714223228
Government lending funds000000000
Interoffice accounts and others621000000
Sources: Data provided by the Cambodian authorities.

Effective May 1994, deposits required of new commercial banks prior to their commencing operations.

Consists mainly of holdings of short-term securities issued by foreign governments.

Related to an old loan from the Foreign Trade Bank of Cambodia (FTBC) to the National Bank of Cambodia for printing expenses.

Sources: Data provided by the Cambodian authorities.

Effective May 1994, deposits required of new commercial banks prior to their commencing operations.

Consists mainly of holdings of short-term securities issued by foreign governments.

Related to an old loan from the Foreign Trade Bank of Cambodia (FTBC) to the National Bank of Cambodia for printing expenses.

Table 20.Cambodia: Interest Rates, 1996-98 1/(Percent per annum)
199619971998
Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.
Deposit rates
Riel savings deposits8.88.88.88.88.88.87.47.47.97.97.97.9
Riel term deposits 2/11.411.411.411.411.411.411.411.411.411.411.411.4
Foreign currency savings deposits2.52.52.52.52.52.52.32.42.52.52.52.5
Foreign currency term deposits3.83.83.83.83.83.83.73.94.04.14.04.0
Lending rates 3/
Foreign currency loans: rates charged to private enterprises18.818.718.818.818.818.518.418.418.518.618.617.6
Source: Data provided by the Cambodian authorities

Simple averages of rates reported by the ten commercial banks with the largest deposits.

The average rate shown is that reported for three-month riel deposits. The volume of total riel deposits continues to be small.

Virtually all loans to the private sector in Cambodia are denominated in foreign currencies.

Source: Data provided by the Cambodian authorities

Simple averages of rates reported by the ten commercial banks with the largest deposits.

The average rate shown is that reported for three-month riel deposits. The volume of total riel deposits continues to be small.

Virtually all loans to the private sector in Cambodia are denominated in foreign currencies.

Table 21.Cambodia: Prudential Regulations As of December 1998
RegulationMain featuresDate of issue
Maintenance of required reserves against deposits and other borrowingReserve requirements of 8 percent are levied on deposits in both foreign and domestic currency. Reserves are defined as cash-in-vault or unremunerated deposits at the National Bank, are calculated on the basis of average daily deposit liabilities over successive 28 day periods, and must be met on an average basis over the period. Penalties for noncompliance are imposed by charging 1/10 of the latest refinancing rate per day on the deficiency.Dec. 30, 1993 Rate adjusted

Jan. 1, 1998
Minimum capitalNew banks must pay the entire amount of their authorized capital into a special account at the National Bank before they start operations; the paid-up capital can be withdrawn later for operational expenses. In addition, each bank must maintain 10 percent of authorized capital in a special capital account at the National Bank, as a form of security. The first 5 percent is unremunerated. The second 5 percent is remunerated at a rate that follows SIBOR.Jan. 1, 1994 Rate adjusted

Jan. 1, 1998
Provisions for bad and doubtful debtsBanks are required to report on loan classification and provisions for doubtful debt.Dec. 31, 1994
Monitoring banks’ open foreign exchange positionsBanks are required to observe a limit on the long or short position in each currency not exceeding 5 percent of the bank’s net worth, and a limit on the aggregate short position not exceeding 15 percent of the bank’s net worth.Jan. 16, 1995
Late submission of the commercial banks’ reportsBanks are required to submit monthly reports on their balance sheet and selected activities by the due date as specified by the National Bank. Penalties are imposed on banks which report late.Mar. 30, 1995 due date shortened Aug. 20, 1997
Risk cover ratio (capital adequacy)Banks must maintain capital adequacy ratio at the minimum level of 5 percent.May 22, 1995
Licensing of banks incorporated under local lawAll entities that conduct banking activities must be licensed by the National Bank. The National Bank determines the conditions for licensing.Oct. 25, 1996
Operational regulations for banks and financial institutions-Banks must maintain their net worth at least equal to their paid-up capital.

-Banks are not allowed to grant credit to an individual customer exceeding 20 percent of their net worth.

-Banks are not allowed to grant credit to their own shareholders, members of board of directors, managers, individuals or legal entities who participate in their establishments.

-Banks are not allowed to use demand deposits to grant long-term credit.

-Banks are not allowed to acquire fixed assets except for operating purposes. The total amount of fixed assets must not exceed 30 percent of net worth.
Dec. 29, 1997
Loan / deposit ratio for banks and financial institutionsThe total amount of domestic deposits must be greater than or equal to the sum of domestic loans, deposits with other local banks and the National Bank, and vault cash.Aug. 28, 1998
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 22.Cambodia: Balance of Payments, 1994-98(In millions of U.S. dollars, unless otherwise indicated)
19941995199619971998
Est.
Current account excluding official transfers−329−494−480−263−262
Current account including official transfers−94−149−180−53−22
Trade balance−275−424−459−269−228
Exports462798650874999
Domestic exports 1/234269328535603
Re-exports228530322338396
Imports, f.o.b.−737−1223−1109−1142−1227
Of which: retained imports, f.o.b.−509−693−787−804−831
Services (net)−75−101−66−54−101
Receipts60129198205171
Of which: tourism53826845
Payments−135−230−264−260−271
Of which: interest−10−15−18−22−24
Private transfers2031466066
Official transfers235346299210240
Of which: budget support34211450
Of which: project aid201154156110143
Capital account1361882237530
Medium- and long-term loans5471593141
Disbursements6175753548
Amortization−7−4−16−4−6
Foreign direct investment80151240150120
Short-term flows and errors and omissions 2/2−34−76−105−131
Overall balance414042228
Financing−41−40−42−22−8
Change in gross official reserves−72−82−52−28−13
Debt rescheduling0239000
Change in arrears (- = reduction)10−2391066
Use of Fund credit214200−1
Purchases/disbursements2142000
Repurchases/repayments0000−1
Memorandum items:
Current account balance
Excluding official transfers (in percent of GDP)−13.7−16.8−15.3−8.5−9.2
Including official transfers (in percent of GDP)−3.9−5.1−5.7−1.7−0.8
Gross official reserves 3/100182234262390
In months of imports of goods and services1.41.52.02.23.1
Net international reserves70110165197323
External debt 4/4875616242,0562,146
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Includes estimates for unrecorded forestry exports.

Believed to be primarily short-term capital and unrecorded imports as counterpart to forestry exports.

Includes $117 million associated with the return of Cambodian gold holdings by the BIS in 1998.

Starting in 1997, includes $1,346 million owed to countries of the former Council of Mutual Economic Assistance. This amount is indicative and subject to negotiations and rescheduling.

Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Includes estimates for unrecorded forestry exports.

Believed to be primarily short-term capital and unrecorded imports as counterpart to forestry exports.

Includes $117 million associated with the return of Cambodian gold holdings by the BIS in 1998.

Starting in 1997, includes $1,346 million owed to countries of the former Council of Mutual Economic Assistance. This amount is indicative and subject to negotiations and rescheduling.

Table 23.Cambodia: Merchandise Exports, 1994-98(In millions of U.S. dollars)
Unit19941995199619971998
Est.
Total exports462798650874999
Domestic exports234269328535603
Garment exports28102279390
Logs and sawn timber 1/197185179224178
Rubber 1/3041322325
Volume(‘000 MT)3140322954
Unit price($/MT)9751,026994799471
Rice176
Volume(‘000 MT)43030
Unit price($/MT)271243204
Fish2333
Volume(MT)1222
Unit price($/MT)1,9621,9211,6111,820
Others7141100
Re-exports228530322338396
Sources: Data provided by the authorities; and Fund staff estimates.

Includes estimates for illegal exports.

Sources: Data provided by the authorities; and Fund staff estimates.

Includes estimates for illegal exports.

Table 24.Cambodia: Merchandise Imports, 1994-98(In millions of U.S. dollars)
19941995199619971998
Est.
Total imports, f.o.b. 1/7371,2231,1091,1421,227
Total imports, c.i.f.8171,3291,2061,2421,334
Freight & insurance on imports801069699107
Taxable imports553932714766563
Cigarettes96193209188149
Motorcycles2936181737
Beer15151454
VCRs2315613
TV sets21171363
Audio cassettes44321
Gold78306411363
Vehicles1222252616
Construction materials211920198
Clothing1217211821
Cloth36131043
Petroleum products29100128136139
Sugar146131513
Cement1212151613
Steel84511
Other143153173176147
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Includes imports for re-exports.

Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Includes imports for re-exports.

Table 25.Cambodia: Sectoral Distribution of Foreign Investment Approvals, 1994-98(In millions of U.S. dollars)
19941995199619971998
Total5942,379803759855
Tourism and hotels241,57211942167
Construction and building materials397328972103
Agriculture, livestock, and food processisng112821658060
Textile, including garments293647100127
Energy4652111218
Telecommunication and transportation1130425311
Electronics, engineering, and mechanical assembly171323
Mining127510
Wood Processing620347179
Education982
Others252891113275
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 26.Cambodia: Investment Approvals by Investor Country of Origin, August 1994-December 1998(Including joint ventures)
CountryTotal approvals

(millions of US$)
Approval share

(percent)
Total5,391100.0
Cambodia1,27623.7
Foreign4,11576.3
America
Canada591.1
United States3987.4
Europe
Belgium20.0
France1923.6
Netherlands130.2
Portugal40.0
Sweden120.2
Switzerland110.2
United Kingdom721.3
Asia
Indonesia470.9
Malaysia1,86734.6
Singapore2464.6
Thailand1572.9
Other Asia/Pacific
Australia330.6
China2144.0
Hong Kong SAR2003.7
Japan130.2
Korea2013.7
Taiwan3676.8
Other countries70.1
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 27.Cambodia: Foreign Debt, 1995-98(In millions of U.S. dollars)
1995199619971998
Est.
Total external debt outstanding 1/5616242,0562,146
Multilateral187259286369
World Bank60103126170
AsDB538595132
IMF74706567
Bilateral3753651,7701,776
New debt25313738
Rescheduled debt3493341,7331,738
Total disbursements118754148
Multilateral104753945
World Bank26432815
AsDB36321130
IMF42000
Bilateral14023
New debt14023
Rescheduled debt0000
Total amortization41646
Multilateral0001
World Bank0000
AsDB0000
IMF0001
Bilateral41645
New debt4101
Rescheduled debt01600
Nonrescheduled debt0044
Total interest10111313
Multilateral1233
World Bank0111
AsDB0011
IMF1111
Bilateral891010
New debt0111
Rescheduled debt6677
Nonrescheduled debt2222
Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Starting in 1997, includes $1,346 million owed to countries of the former Council of Mutual Economic Assistance. This amount is indicative and subject to negotiations and rescheduling.

Sources: Data provided by the Cambodian authorities; and Fund staff estimates.

Starting in 1997, includes $1,346 million owed to countries of the former Council of Mutual Economic Assistance. This amount is indicative and subject to negotiations and rescheduling.

Table 28.Current Status of Forest Concessions(as of January 1999)
CompanyCountry of originArea

(hectares)
Concessions paying royalties

and having normal exploitations (9 companies)
Grand Atlantic Timber (GAT), SDN, BHDMalaysia215,720
Grand Atlantic Timber (GAT), SDN, BHDMalaysia149,780
ColeximCambodia/Japan147,187
Mieng Ly Heng InvestmentCambodia198,500
Long Day Machinery IndustryTaiwan98,000
CasotimCambodia/Russia131,380
Samling Corporation, SDN, BHDMalaysia467,484
Pheapimex Fuchan CambodiaTaiwan358,725
Lang Song InternationalTaiwan132,000
Samling Corporation SND, BHDMalaysia298,598
subtotal2,197,374
Concession with on-going inventory, but not yet commercially active (10 companies)
Timas ResourcesSingapore161,450
Talam Resources, SND, BHDMalaysia111,500
Hero Taiwan CompanyTaiwan60,150
Kingwood Industry PTETaiwan301,200
Silverroad Wood Products100,000
Silverroad Wood Products215,460
Lang Song InternationalTaiwan119,300
Everbright Cig WoodChina136,376
Cambodia Chemda Plywood Mfg.Taiwan103,300
Som Rong Wood Industries Pte.Cambodia200,050
Superwood IpcpMalaysia94,418
subtotal1,603,204
Concesisions with pending request, no on-going

inventory (13 companies)
Cambodia Timber ProductCambodia34,924
Chung Shing Cambodia Co.Taiwan374,350
Samling Corporation SDN BHDMalaysia218,059
Pheapimex Fuchan-VanachayTaiwan350,000
Kingwood IndustryTaiwan144,100
Landworth Holding PtyCambodia99,400
Thai Boon RoongCambodia119,700
Thai Boon RoongCambodia297,000
TPT Cambodia Timber Products Ltd395,900
Pacific CraftFrance24,537
Woot Tee Peanich Import Export Co Ltd63,050
Chang Ling Lumber Co. Ltd236,500
North Eastern Forest Development Ltd.232,100
subtotal2,589,620
Total in Concession6,390,198
Concessions that were canceled in January 1999

(11 companies)
Pheapimex Fuchan-VanachayTaiwan129,260
Vanna Chhay CompanyThailand129,260
Pangloy Chorvy86,200
Double Ace InvestmentMalaysia177,500
Pt Maharani Infiniti ResourceIndonesia459,330
Geometric HoldingsIndonesia245,700
Macro Cambodia Forestry IndustryIndonesia1,432,930
Super LandMalaysia162,200
B.L.P. Import ExportThailand91,200
Pelico Wood Ltd381,611
MCGATE Corporation SND137,475
Total canceled3,432,666
Source: Data provided by the Cambodian Authorities
Source: Data provided by the Cambodian Authorities
Table 29.Cambodia: Status of State-Owned Enterprises(End-1998)
Enterprises to be RetainedEnterprises to be PrivatizedEnterprises Already Privatized
Controlling MinistryFully activeReduced activityIdleTotalFully activeReduced activityIdleTotalLeased enterprisesJoint ventureSold to private sectorEnterprises closedTotal
Agriculture00001210132220024
Commerce000003032031024
Culture0101000040206
Health0011000020002
Industry100102026850073
Public works and transport710810561514121
Post and telecommunications0000000020002
Council of Ministers1001000001102
Other0000000060006
Total921121365241391281160
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 30.Cambodia: Previously State-Owned Enterprises Sold to the Private Sector(End-1998)
BusinessMinistryBuyer’s nationalityDate of saleSale price (US$)
Total26,774,016
Flour FactoryIndustry7/24/91450,000
Soap FactoryIndustryCambodia10/25/9185,800
Mechanical Factory #2Industry11/14/91360,000
Mechanical Factory #4IndustryCambodia11/14/91225,000
Battery ShopIndustry11/14/91156,000
Battery ManufacturerIndustry11/14/9680,000
Tire ShopIndustryCambodia11/14/9140,000
Mechanical Factory #3Industry11/15/91440,000
Mechanical Factory #9Industry11/15/91420,000
Mechanical Factory #7Industry11/29/91155,000
KM 6 StoreIndustryCambodia7/30/9256,000
Rubber WarehouseIndustryCambodia7/30/9225,000
Bata Shoe FactoryIndustry8/24/92140,000
Soap FactoryIndustryCambodia8/24/9272,000
Kbal Thnal StoreIndustryCambodia12/8/92170,000
Print ShopCultureCambodia6/15/93
Agriculture Material ManufacturerIndustryCambodia6/17/94
Print ShopCultureCambodia6/17/95
Tobacco ManufacturerIndustryCambodia1/26/963,400,000
CKCCommerceCambodia3/11/9610,680,000
SOKLAIT (Warehouse and plant)IndustryCambodia10/21/961,250,000
Bran Oil FactoryIndustryCambodia12/4/971,020,000
Zeam Conte Garages 1PlaningCambodia10/24/97200,000
Zeam Conte Garages 2CommerceCambodia5/27/97200,000
Gas Station in Seam Reap ProvinceCommerceCambodia10/8/9740,000
Taprum HotelFinanceCambodia3/13/9770,000
Peace HotelFinanceCambodia7/30/9840,000
Phnom Kamchay HotelFinanceCambodia6/15/98155,516
Vacant Land in Kampong spey ProvinceInteriorCambodia4/30/9871,160
Pailin Hotel in Batambang ProvinceInteriorCambodia2/18/9845,666
Warehouse in Posat ProvinceCommerceCambodia4/2/9821,980
CK.C.CommerceCambodia19973,500,000
Focker Air PlaneCouncil of Ministers11/98663,970
Warehouse Company GroupCommerce199863,600
Chinese HospitalHealthCambodia19982,345,324
Vacant Land near the Cigarette FactoryIndustryCambodia1997132,000
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 31.Cambodia: State-Owned Enterprises Leased to the Private Sector by Type of Activity(End-1998)
Duration of lease (years)Payment in 1998 (US$)
Type of asset (No. of leases)1-14 yrs.15 or 20 yrs.>20 yrs.TotalAverageMinimumMaximum
Total (139)1166645,464,89545,7181,000510,000
Beverage companies (3)030598,020199,340103,100200,000
Brick, ceramics, stone manufacturers (7)016109,10015,4806,00041,200
Car repair, ship repair (4)10358,20026,1752,60054,500
Chemical plants (4)031100,50037,62517,00055,500
Garages, gas stations (12)084108,65012,2771,25036,000
Land, buildings (30)8148502,07236,7891,000200,000
Leather, textiles manufacturers (19)0109518,45049,50812,000100,000
Mechanical plants (4)031105,00036,25012,00060,000
Miscellaneous manufacturing (13)167451,30029,9918,40060,000
Restaurants, guest house (12)1651,814,42819,4504,80045,000
Sawmills (9)07275,00039,0737,000128,000
Shops, offices (2)00266,00033,00033,00033,000
Tire factories (6)042207,45146,44415,00091,000
Warehouses (15)0114750,72458,1506,000510,000
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 32.Cambodia: State-Owned Enterprises Leased to the Private Sector by Ministry(End-1998)
Duration of leaseUnknown durationPayment in 1998 (US$)
MinistryNumber of leasesEarliest leaseLatest lease1-14 yrs.15 or 20 yrs>20 yrs.TotalMinimumMaximum
Total1395,464,8951,000510,000
Agriculture16Nov-91Jun-9711050399,1002,600200,000
Commerce17Aug-91Sep-9704130912,9381,000510,000
Culture3Jul-92Jul-96102077,98210,80050,000
Industry50Jun-89May-970302002,297,8056,000217,600
Public works19Jul-91Jan-9611080339,5424,800100,000
Post and Telecommunications2May-96Jun-97110036,0006,00030,000
Foreign Affairs8Jan-94Jul-975210407,30012,00090,000
Defense6Jan-90Jul-942220626,5002,500225,000
Interior1Jun-94109,6009,6009,600
Information4Jun-91Nov-921120112,1289,60072,000
Education4Jan-96Apr-982250,4002,40025,000
Tourism5Jan-95Jun-975
Health1Nov-92Sep-9713,6003,6003,600
Council of Ministers3M-94Nov-943192,00012,000180,000
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 33.Cambodia: Proposed Privatization Decisions(End-1998)
Total Number of EnterprisesStatus 1/
Type of EnterpriseActiveReduced ActivityIdle
Total36L P RL P RL P R
1 12 120 6 05 0 0
Construction5RPLLL
Fishery2PP
Goods transport4PPRL
Manufacturing
Mining
Port activities (In the process to transform into Public Enterprises)6RRRRRR
Passenger transport (Already leased)1L
Printing, video3Rpp
Rubber plantations (In the process to transform into Public Enterprises)6PPPPPP
Service industries4PPRP
Trade, import, export2pL
Utilities, mail, telecommunications (In the process to transform into Public Enterprise)3RPp
Source: Data provided by Cambodian authorities.

Each letter in a column represents an enterprise:

  • L: enterprise to be liquidated;

  • P: enterprise to be privatized; and

  • R: enterprise to be retained.

Source: Data provided by Cambodian authorities.

Each letter in a column represents an enterprise:

  • L: enterprise to be liquidated;

  • P: enterprise to be privatized; and

  • R: enterprise to be retained.

Table 34.Cambodia: Joint Ventures Entered into by the State(End-1998)
Share Retained by the State in PercentPrivate Interest
CompanyBusinessMinistryNationalityShare in Percent
CASOTIMWood ProcessingAgriculture20Russia80
COLEXIMWood ProcessingAgriculture61Japan49
RAC (Royal Air Cambodge)AirlineCouncil of Ministers60Malaysia40
Cambodia Samart CommunicationTelecommunicationsPost & Telecommunications30Thailand70
Cambodia Shinavvatra Co.Post & Telecommunications30
CAMTELTelecommunicationsPost & Telecommunications30
SOCITELTelecommunicationsPost & Telecommunications30
Telstra International Ltd.TelecommunicationsPost & Telecommunications40Australia60
Tricelula Communication CambodiaTelecommunicationsPost & Telecommvjuiications3070
CAMBODIA PHAMACEUTICAL
ENTERPRISE (CPE)Medecine ProcessingHealth48China52
CAMINTELTelecommunicationsPost & Telecommunications51Indonesia49
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
ANNEX I
Summary of the Cambodian Tax System(As of December 1998)
TaxNature of taxExemptions and deductionsRates
1.Taxes on income, profits, and capital gains
• Tax on wages and salariesA monthly tax on income from wages and salaries and on fringe benefits, withheld at source. The tax applies to all wages received in Cambodia and to wages received abroad by Cambodian nationals if the employer is a Cambodian resident.There are no exemptions. Deductions from the tax base are applied according to the number of children under age 18, as follows: (i) 0-1 children, 0 percent; (ii) 2-3 children, 10 percent; (iii) 4-5 children, 20 percent; and (iv). or more children, 30 percent.Progressive rates applied to monthly income as follows: (i) Less than 750,000 riel, 0 percent; (ii) 750,000-1,000,000 riel, 5 percent; (iii) 1,000,000-10,000,000 riel, 10 percent; (iv) 10,000,000-20,000,000 riel, 15 percent; and (v) 20,000,000 riel and over, 20 percent.
• Tax on rental incomeA tax on receipts from rents on land and buildings. The tax is paid by the owner.Property owners whose monthly income from rent is below 500,000 riel are exempt, as are enterprises who are taxed on an actual account basis.10 percent
• Tax on enterprise profitsA monthly tax on the profits of businesses, including interest received and capital gains. Incorporated businesses, manufacturing and commercial enterprises whose annual turnover is more than 200,000,000 riel, service enterprises whose annual turnover is more than 100,000,000 riel, importers and exporters, enterprises that have signed a contract with the State, enterprises covered by the Law on Investment, and hotels and restaurants are required to keep accounts and pay accounts-based profit taxes.There are no exemptions under the tax law. However, under the Law on Investment, exemptions can be granted by the Council for the Development of Cambodia (CDC) to investing enterprises for up to S years, commencing the year the investment project first becomes profitable.20 percent for incorporated businesses. A progressive rate structure applies to annual profits as follows: (i) less than 1,000,000 riel, 10 percent; (ii) 1,000,000-10,000,000 riel, 15 percent; (iii) 10,000,000-20,000,000 riel, 20 percent; and (iv) 20,000,000 and higher, 30 percent The tax rate is 9 percent for projects approved by the CDC under the Law on Investment.
2.Taxes on use of goods or permission to perform activities (the patente)An annual registration or license fee levied on all businesses, industries, and professionals. The base is the previous year’s turnover, or estimated turnover. New businesses are taxed on the basis of a provisional estimate.Farmers are not subject to the tax.The patent. is levied as a percentage of total turnover at the following rates:
Manufacturing and handicrafts0.5 percent
Fisheries, construction, transport, small services, restaurants and trade0.8 percent
Other services1.0 percent
3.Taxes on domestic goods and services
• VATValue added tax, imposed since 1/1/99 on 1,000 larest enterprises.Uniform rate10 percent
• Turnover taxA monthly tax on business turnover payable both by those subject to the profits tax on the basis of their accounts, and those subject to the presumptive tax regime. In the latter case, turnover tax payable each month may be fixed in advance for periods of 3, 6 or 12 months. Also covers first sale of imported products (to be phased out with frill introduction of VAT).Agricultural products sold by primary producers (but not sold by traders); and mobile traders and small permanent establishments, as determined by the Minister of Economy and Finance. Enterprises operating under the Law on Investment are not exempted from the turnover tax.Industrial, handicraft and mining businesses1 percent
Traders, services and other businesses4 percent
Hotels (on turnover other than room charges), restaurants, bars, massage parlors, and other establishments10 percent
• Excise taxA tax levied on select products, both locally produced and imported. These include: cigarettes, tobacco, alcoholic and non-alcoholic drinks, ice cream, lotus seeds and gasoline, cars, international air travel and telecommunications.None.Gasoline20 percent
Other taxable products10 percent
• Stamp taxTax payable in the form of stamps affixed to some documents.None.Specific small amounts depending on the type of document, ranging from 10 riel for school registration to 1,000 riel for investment authorizations.
4.Slaughter taxTax levied on slaughterhouses based on the value of the livestock that is slaughtered.None.Tax is equal to 3 percent of the set price for each animal. The set values range from 50,000 riel for pigs to 100,000 riel for cattle and buffalo.
5.Taxes on propertyTax levied on the transfer of land, buildings, motor vehicles, and motorcycles.Transfers of property ordered by the State are exempted, as are government transfers, public utilities, and charitable organizations. The sale of motor vehicles is also exempted if the seller is subject to the turnover tax or the profits taxTax is paid by purchaser on presumptive values, fixed as follows: (i) individual cars, 375,000 riel; (ii) trucks, vans, etc., 300,000 riel; (iii) motorcycles, 100,000 riel; (iv) land, from 5,000-30,000 riel per square meter depending on zone; (v) buildings, from 50,000-125,000 riel per square meter depending onzone.
6.Taxes on international trade
• Taxes on imports
• Import dutiesEffective September 16, 1993, a general tariff (based on the Harmonized System classification) has been levied on all imports. All rates are ad valorem and duties are levied on c.i.f. basis, except for eight major revenue-producing items for which values for duty purposes are fixed in US dollar terms by the Minister of Economy and Finance.Exempted from import duties are: (i) imports for projects and investments approved by the CDC, on approval at the time of import; (ii) fuel for Royal Air Cambodge, up to a ceiling of 2,000 tons of aviation fuel; (iii) insecticides, pesticides, and agricultural machinery (excluding tractors); and (iv) imports of embassies, international organizations providing humanitarian aid, and projects financed through bilateral grants and aid.There are essentially four rate categories: (i) 7 percent for essential goods and basic raw materials; (ii) 15 percent for intermediate goods and machinery and equipment; (iii) 35 percent for most consumer goods and building materials; and (iv) 50 percent for luxury goods. Reduced rates are applied to certain goods in rough proportion to the extent to which they are assumed to be re-exported. Gold and silver coins are subject to the lowest rate, 0.3 percent. Automobiles are subject to tariffs ranging from 30 to 120 percent.
Petroleum products:

  • (i) Gasoline: 50 percent of the prescribed value of $320 per ton.

  • (ii) Diesel: 50 percent of the prescribed value of $275 per ton.

• Consumption taxAd valorem tax levied on f.o.b. values of a limited number of imports.Imports exempt from duty are also exempted from the consumption tax.4 percent
• Export taxes
• Tax on timberAd valorem tax levied on the value of logs and sawn timber at export In principle, exports of logs are limited to those cut on Government-agreed concessions. An export ban on all logs was reinstated on December 31, 1996.None.10 percent
• Tax on rubberAd valorem tax levied on rubber.None.10 percent
• Other productsAd valorem tax levied on selected livestock products and precious stones.None.5-10 percent
7.Other taxes and fees
• Motor vehicle feesAnnual levy automobiles and boats.None.Lorry:160,000 riel
Motor car:
up to 9 horsepower37,500 & 50,000 riel
9-12 horsepower50,000 & 75,000 riel
over 12 horsepower87,500 & 125,000 riel
Motorcycles3,000-7,500 riel
Small power boat5,000 riel
Cargo ship (over 2,000 tons)1,200,000 riel
Sea-going fishing boat (over 500 horsepower)300,000 riel
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.

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