Information about Asia and the Pacific Asia y el Pacífico
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Cambodia

Author(s):
International Monetary Fund
Published Date:
November 2000
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Information about Asia and the Pacific Asia y el Pacífico
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Table 1.Cambodia: Gross Domestic Product by Sector at Current Prices, 1994–99
199419951996199719981999

Est.
(In billions of riels at current prices)
Agriculture2,6143,4533,4713,8574,4144,539
Crops1,1462,0041,9652,0632,3862,377
Livestock and poultry483478551569683798
Fisheries464471555592726933
Forestry and logging522500400633619430
Industry8069861,2121,4601,8282,156
Mining111213141519
Manufacturing5225807549891,3521,501
Food, beverages, and tobacco220249299330390420
Textile, wearing apparel, and footwear5069132305507718
Wood, paper, and publishing968311314823092
Rubber manufacturing203145332535
Other manufacturing135148165174201236
Electricity, gas, and water314040414743
Construction242355406416414593
Services2,4632,7813,2213,4193,8354,279
Trade8699731,0781,1491,2411,332
Hotels and restaurants237285350375418524
Transport and communications386423510534587708
Finance27778798100110
Public administration222234296305311380
Real estate and business452483537601732764
Other services271307362357446461
Taxes on products less subsidies334395483537579638
Less: imputed bank charges177363123124142
Gross domestic product (GDP)6,2017,5438,3259,14910,53111,470
(Percentage change from previous period)
Agriculture2.332.10.511.114.42.8
Crops1.274.9−1.95.015.6−0.3
Livestock and poultry−8.8−1.015.43.319.917.0
Fisheries−24.01.617.76.722.728.5
Forestry and logging83.1−4.2−20.058.3−2.1−30.5
Industry6.622.322.920.425.218.0
Mining1.04.211.47.110.723.1
Manufacturing6.711.129.931.336.711.0
Of which: Textile, wearing apparel, and footwear−29.037.091.9130.366.441.6
Electricity, gas, and water28.028.11.51.414.5−6.6
Construction4.546.714.22.5−0.543.3
Services−5.012.915.86.112.211.6
Trade−8.711.910.96.58.07.4
Hotels and restaurants21.120.423.07.111.525.3
Transport and communications5.09.720.54.89.820.6
Finance15.0182.113.113.02.69.8
Public administration58.35.226.73.01.922.3
Real estate and business−27.47.111.111.821.94.3
Other services−7.013.318.2−1.524.83.3
Gross domestic product (GDP)1.921.610.49.915.18.9
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 2.Cambodia: Gross Domestic Product by Sector at Constant 1993 Prices, 1994–99
199419951996199719981999

Est.
(In billions of rids at constant 1993 prices)
Agriculture2,6162,8122,8743,0393,1153,162
Crops1,0151,3011,3581,3211,3291,450
Livestock and poultry527542555561593564
Fisheries574582630679716830
Forestry and logging501388331478477319
Industry7889471,0581,2741,3831,541
Mining121212121213
Manufacturing5135696759121,0611,158
Food, beverages, and tobacco223227245249253263
Textile, wearing apparel, and footwear5769136309453637
Wood, paper, and publishing8510511919218368
Rubber manufacturing192534282938
Other manufacturing129142142133143153
Electricity, gas, and water263536363839
Construction237331335314272331
Services2,5862,6952,8252,7212,6852,840
Trade925919917895848862
Hotels and restaurants243287305295283334
Transport and communications404405440377367415
Finance296974766970
Public administration210215252261259269
Real estate and business478493497511531548
Other services296309340307329342
Taxes on products less subsidies352356412433412432
Less: imputed bank charges186754898392
Gross domestic product (GDP)6,3236,7447,1157,3787,5127,885
(Percent change from previous period)
Agriculture2.37.52.25.82.51.5
Crops−10.428.24.4−2.70.69.1
Livestock and poultry−0.52.82.51.25.6−4.9
Fisheries−5.91.48.37.85.416.0
Forestry and logging75.7−22.5−14.744.3−0.1−33.2
Industry4.220.211.720.48.611.4
Mining7.22.8−4.60.11.48.0
Manufacturing4.910.818.735.116.49.1
Of which: Textile, wearing apparel, and−18.919.996.6128.046.540.8
Electricity, gas, and water7.537.00.91.63.73.8
Construction2.239.81.3−6.4−13.221.6
Services−0.24.24.8−3.7−1.35.8
Trade−2.9−0.7−0.2−2.4−5.31.7
Hotels and restaurants24.517.96.2−3.3−4.118.3
Transport and communications10.00.18.8−14.4−2.613.2
Finance21.214126.73.6−9.51.9
Public administration49.92.017.33.5−0.53.7
Real estate and business−23.13.00.92.73.93.3
Other services1.74.410.1−9.97.23.9
Gross domestic product (GDP)3.96.75.53.71.85.0
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 3.Cambodia: Gross Domestic Product by Expenditure at Current Prices, 1994–99
199419951996199719981999

Est.
(In billions of riels at current prices)
Household final consumption expenditure6,0026,7997,3548,0419,3779,916
Government consumption expenditure493413529553590720
Gross fixed capital formation7009571,1251,1921,3601,818
Durable equipment215263387436608740
Construction4846937377567521,078
Increase in stocks5718144122−98288
Exports of goods and services1,4122,4072,1373,0483,7854,264
Merchandise, f.o.b.1,2722,1241,7132,6053,3713,774
Services141283425443414490
Less: Imports of goods and services2,3843,5893,5974,0674,8645,632
Merchandise, c.i.f.2,0263,1243,0333,4794,2034,875
Services359465564588662757
Statistical discrepancy−7953863326038096
Gross domestic expenditures6,2017,5438,3259,14910,53111,470
(Share as a percent of GDP)
Household final consumption expenditure96.890.188.387.989.086.4
Government consumption expenditure7.95.56.46.05.66.3
Gross fixed capital formation11.312.713.513.012.915.8
Durable equipment3.53.54.64.85.86.5
Construction7.89.28.98.37.19.4
Increase in stocks0.90.21.71.3−0.92.5
Exports of goods and services22.831.925.733.335.937.2
Merchandise, f.o.b.20.528.220.628.532.032.9
Services2.33.85.14.83.94.3
Less: Imports of goods and services38.447.643.244.546.249.1
Merchandise, c.i.f.32.741.436.438.039.942.5
Services5.86.26.86.46.36.6
Statistical discrepancy−1.37.17.62.83.60.8
Gross domestic expenditures100.0100.0100.0100.0100.0100.0
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 4.Cambodia: Gross Domestic Product by Expenditure at Constant 1993 Prices, 1994–99
199419951996199719981999

Est.
(In billions of riels at constant prices)
Household final consumption expenditure6,1946,4646,5426,5476,6516,764
Government consumption expenditure467380450431395434
Gross fixed capital formation6338419689731,1071,292
Durable equipment159195358402612690
Construction474646610571495602
Increase in stocks6116144115−90199
Exports of goods and services1,5852,2411,8152,6882,9533,518
Merchandise, f.o.b.1,4251,9721,4562,3442,6783,203
Services159269359343276315
Less: Imports of goods and services2,0463,3402,9753,1383,3364,090
Merchandise, c.i.f.1,6682,9132,4952,6712,8933,601
Services377427480468443489
Statistical discrepancy−570142172−237−169−231
Gross domestic expenditures6,3236,7447,1157,3787,5127,885
(Percent change from previous period)
Household final consumption expenditure3.44.41.20.11.61.7
Government consumption expenditure52.5−18.618.5−4.2−8.39.7
Gross fixed capital formation13.432.915.10.513.716.7
Durable equipment68.122.584.112.352.012.8
Construction2.236.4−5.7−6.4−13.221.6
Increase in stocks1134.8−73.4782.5−19.7−177.7−321.4
Exports of goods and services32.841.4−19.048.19.919.1
Merchandise, f.o.b.41.238.3−26.261.014.219.6
Services−13.469.333.3−4.5−19.614.3
Less: Imports of goods and services23.463.3−10.95.56.322.6
Merchandise, c.i.f.32.174.6−14.37.08.324.5
Services−4.613.212.4−2.6−5.310.5
Gross domestic expenditures3.96.75.53.71.85.0
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 5.Cambodia: Deflators for Gross Domestic Product by Sector, 1994–99(Percent change from previous period)
199419951996199719981999

Est.
Agriculture−0.122.9−1.65.111.71.3
Crops13.036.4−6.17.914.9−8.6
Livestock and poultry−8.4−3.712.62.113.623.0
Fisheries−19.20.28.6−1.016.510.8
Forestry and logging4.223.5−6.29.7−2.14.0
Industry2.31.710.00.015.35.9
Mining−5.81.416.77.09.114.0
Manufacturing1.70.39.4−2.817.41.7
Food, beverages, and tobacco−1.210.911.28.516.63.7
Textile, wearing apparel, and footwear−12.514.3−2.41.013.60.5
Wood, paper, and publishing12.9−30.220.2−18.963.38.5
Rubber manufacturing3.317.97.1−10.4−28.012.3
Other manufacturing5.3−0.811.811.87.19.9
Electricity, gas, and water19.1−6.50.6−0.310.4−10.0
Construction2.24.912.79.514.617.9
Services−4.78.310.510.213.75.5
Trade−6.012.711.09.114.15.6
Hotels and restaurants−2.72.115.810.716.25.9
Transport and communications−4.69.610.822.312.86.6
Finance−5.217.06.09.113.37.7
Public administration5.63.18.0−0.52.418.0
Real estate and business−5.63.910.18.917.30.9
Other services−8.68.57.39.416.4−0.6
Taxes on products−4.916.75.75.813.45.0
Less: imputed bank charges−5.214.88.017.68.03.5
Gross domestic product (GDP)−1.914.04.66.013.13.8
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 6.Cambodia: Agriculture, Livestock, and Fishery Production, 1994–99
Unit199419951996199719981999
(’000)Est.
Agriculture 1/
RiceTons2,2233,4483,4583,4153,5104,030
MaizeTons455565424969
CassavaTons6582707767108
Sweet potatoTons363938293030
VegetablesTons197193250250217215
MungbeanTons17201415914
PeanutTons576778
SoybeanTons231728562833
SesameTons445758
SugarcaneTons219202171188133182
TobaccoTons121110101010
JuteTons21221-
RubberTons313544323445
Livestock
CowsHeads2,6222,7782,7622,8722,6802,887
BuffalosHeads814765744766694696
PigsHeads2,0022,0392,1512,2372,3392,363
PoultryHeads10,09410,06711,41211,98213,16715,085
Fishery
Fresh fish and shrimpTons103113104115122284
CrocodilesHeads61520174125
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 7.Cambodia: Agriculture, Livestock, and Fishery Gross Value Added (GVA), 1996–99(In billions of riels at constant 1993 prices)
1996199719981999

Est.
Agriculture, Fishery, & Forestry2,8743,0393,1153,162
Agricultural Crops1,3581,3211,3291,450
Rice783773795859
Corn27182128
Cassava25282439
Sweet potato14101111
Mungbean18201219
Soybean25492429
Groundnut09111012
Sesame06070609
Vegetables182129158156
Sugarcane20221622
Black pepper01
Tobacco18191919
Cotton
Jute0101010
Rubber60595360
Other crops169174180187
Livestock & Poultry555561593564
Fisheries630679716830
Forestry & Logging331478477319
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.
Table 8.Consumer Price Index, 1996–2000
CPI ALL ITEMSFood, Beverages and TabaccoClothing and FootwearHousing and UtilitiesHouse Furnishings and HH. OperationsMedical CareTransportation and CommunicationRecreation and EducationPersonal Care and Effects
(Index, July-Sep., 1994=100)
Dec-96115.9119.2103.6108.7121.6115.8125.5114.7101.5
Dec-97126.6122.8111.7122.5121.6146.7161.9118.2107.8
Dec-98143.4148.1118.8129.3144.2159.3169.0127.2116.0
Jan-99140.5143.9120.2128.5152.5150.0165.8126.3116.1
Feb-99141.1145.1123.9128.7152.7148.4164.8126.3115.0
Mar-99140.7144.2123.3128.6150.3145.3167.2129.2116.2
Apr-99141.5144.5120.6129.4150.6146.8172.5129.2114.6
May-99143.3148.2120.6129.2151.4148.1172.5129.2113.1
Jun-99144.2151.2120.7129.0150.9142.1171.1124.8114.5
Jul-99144.4151.1120.1130.8165.7138.7169.1124.0111.9
Aug-99143.6149.1118.7130.5165.7139.3172.5124.0114.4
Sep-99144.0149.9118.7129.8166.6140.1173.7121.7115.4
Oct-99143.7149.1117.9129.8165.4143.2173.5121.7113.8
Nov-99143.8149.5115.8129.8164.8143.5173.6121.7113.2
Dec-99142.6147.7115.9129.4164.9140.0174.4119.1114.0
Jan-00141.0143.4116.1132.5159.5140.5173.2118.6113.8
Feb-00140.6141.5118.7132.7160.8140.8177.6118.6112.9
Mar-00140.9141.3119.4132.5161.8137.3184.4118.8113.4
Apr-00140.3140.5121.0132.7161.1138.1178.9119.7115.1
May-00139.5139.1121.4133.2161.1139.0176.5119.7112.4
Jun-00139.4139.7115.1132.6160.3134.6179.3118.1116.5
(12 Monthly Percentage Change)
Dec-9610.011.63.610.515.24.50.42.32.7
Dec-979.23.07.912.70.026.729.03.06.2
Dec-9813.320.66.35.618.58.64.47.67.6
Jun-994.910.53.0−0.310.2−5.8−0.1−3.5−2.1
Jul-991.84.2−2.01.114.0−8.1−0.2−6.2−4.0
Aug-992.94.2−3.01.214.7−7.210.0−6.2−1.0
Sep-990.71.4−1.50.815.6−12.56.0−7.7−1.4
Oct-990.00.5−2.30.813.5−12.04.0−7.7−3.3
Nov-990.51.8−4.50.713.8−11.12.8−7.7−3.6
Dec-99−0.5−0.2−2.50.114.4−12.13.2−6.3−1.7
Jan-000.4−0.3−3.43.14.4−6.34.4−6.1−2.0
Feb-00−0.3−2.5−4.13.15.3−5.17.8−6.1−1.9
Mar-000.2−2.0−3.23.17.6−5.510.3−8.1−2.4
Apr-00−0.9−2.80.32.67.0−5.93.8−7.30.4
May-00−2.7−6.10.63.16.4−6.12.3−7.3−0.6
Jun-00−3.3−7.64.72.76.2−5.34.8−5.41.7
Sources: National Institute of Statistics, Ministry of Planning.
Sources: National Institute of Statistics, Ministry of Planning.
Table 9.Cambodia: Central Government Operations, 1996–2000
19961997199819992000
ActualActualActualBudgetActualBudget
Billions of rielsPercent of GDPBillions of rielsPercent of GDPBillions of rielsPercent of GDPBillions of rielsPercent of GDPBillions of rielsPercent of GDPBillions of rielsPercent of GDP
Total revenue7499.08819.69439.01,24510.91,31611.51,47511.8
1. Tax revenue5346.45976.56796.58537.4948831,0358.3
Direct taxes270.3440.5560.5810.7830.71040.8
Indirect taxes1642.02062.32482.43322.94323.84393.5
o.w. Excise taxes (incl. on imports)570.7740.8760.7800.7920.8940.8
Domestic70.1110.1160.2200.2160.1220.2
Import500.6630.7600.6600.5760.7720.6
VAT (incl. on imports) 1/2312.03152.73292.6
Domestic630.5430.4730.6
Import1681.52862.52862.3
Refund (-)00.0140.1300.2
Trade taxes3444.13473.83763.64413.84333.84923.9
2. Nontax revenue1762.12713.02302.23673.23553.14203.4
o.w Timber Royalties280.3370.4230.2730.6360.3520.4
Enterprises and immobile leases190.2210.2270.3310.3200.2390.3
Civil aviation170.2150.2180.2270.2190.2430.3
PTT640.8830.9870.81611.41090.91501.2
Quota Auction00.0870.8100.1
Garment licenses00.0210.2360.3
3. Capital revenue390.5120.1330.3250.2140.1200.2
Total expenditure 2/144117.31,26013.81,57114.91,48012.91,82515.92,24218.0
1. Current expenditure8139.88088.89418.91,1009.61,0979.61,28510.3
Wages3544.33824.24514.34824.25254.65274.2
Civil administration1251.51321.41541.51671.51941.72181.7
Defense and security2292.82502.72972.83152.73312.93092.5
Non-wage4595.5426474904.7618.25.45725.07586.1
Operating expenditures3454.13223.53723.53963.54103.65054.0
Civil administration1662.01641.82202.12652.32762.43763.0
Defense and security1792.21581.71521.41311.11341.21291.0
Economic transfers450.270.1140.1440.4120.1460.4
Social transfers620.7680.7710.7940.81040.91170.9
Civil administration550.7610.7630.6850.7950.81000.8
Defense and security70.170.180.190.190.1170.1
Interest130.2100.1150.1130.1220.2250.2
Other non-wage230.3180.2180.2220.2210.2250.2
Reserve funds00.020.000.0440.400.0360.3
Election00.000.000.060.120.050.0
2. Capital expenditure6297.64524.96306.03803.37286.39577.7
Locally financed620.71101.21201.11801.62241.92572.1
Externally financed5676.83423.75104.82001.75044.47005.6
CURRENT BALANCE−103−1.2610.7−32−0.31201.02051.81701.4
OVERALL BALANCE−692−8.3−379−4.1−628−6.0−235−2.0−509−4.4−767−6.1
OVERALL BALANCE (incl. grants)−113−14−38−0.4−286−2.7−185−1.6−167−1.5−217−1.7
FINANCING6928.33794.16286.02352.05094.47676.1
1. Foreign financing (net)6748.14464.95054.82482.25154.58436.8
o.w. Project aid5666.83513.85044.82001.75114.57005.6
Budget support (grant)1501.8961.020.0500.440.01501.2
2. Domestic financing−9−0.1−57−0.61171.1−13−0.1−15−0.4−76−0.6
Central bank financing−17−0.2−75−0.81201.1−130.0−70−0.6−76−0.6
Non bank financing80.1180.2−40.000.0260.200.0
3. Outstanding operations 3/280.3−10−0.160.100.0380.300.0
Memorandum items:
Defense and security outlays4155.04154.54574.34554.04774.24553.6
Revenue from forestry330.4410.4250.2780.7490.4520.4
Total revenue (excl. garment quotas)7499.08819.69439.01,24510.91,22910.71,46511.7
Health, Education, Rural dev. (commitment)1291.61291.41491.42081.82322.03122.5
Customs department revenue4644865275.06685.87966.98506.8
Source: Data provided by Cambodian authorities, and Fund staff estimates.

VAT refunds are adjusted.

Total expenditure is based on a mixture of cash and accrual data.

Includes expenditure committed but not yet allocated to the accounts of the government agencies that execute the budget.

Source: Data provided by Cambodian authorities, and Fund staff estimates.

VAT refunds are adjusted.

Total expenditure is based on a mixture of cash and accrual data.

Includes expenditure committed but not yet allocated to the accounts of the government agencies that execute the budget.

Table 10.Cambodia: Structure of Revenue, 1996–2000(In billions of riels)
19961997199819992000

Budget
Total revenue749.1881.0942.71,316.31,475.0
Tax revenue534.3597.4679.4947.71,035.0
Direct taxes26.543.655.582.7103.6
Wage tax2.75.78.510.615.0
Profit tax18.535.042.163.881.6
Public enterprises6.06.48.67.08.0
Private enterprises12.528.633.554.273.6
Petroleum enterprises2.60.0
Property tax2.12.64.75.77.0
Tax on unutilized land0.00.30.20.00.0
Other income taxes3.20.00.02.60.0
Indirect taxes163.7206.5247.5431.6439.4
Turnovertax27.446.665.921.812.0
Public enterprises4.23.03.91.30.0
Private enterprises23.243.662.120.512.0
Consumption tax70.475.290.1
VAT314.9329.0
Domestic42.873.0
Public enterprises2.03.0
Private enterprises39.470.0
Petroleum companies1.30.0
Import285.8286.0
Petroleum companies76.656.0
Other companies209.2230.0
VAT refunds (-)13.730.0
Excise taxes56.674.176.191.894.0
Domestic6.811.115.915.522.0
Import49.863.060.276.372.0
Others9.210.615.42.94.4
Business license tax1.61.92.10.10.0
Vehicle license tax3.33.87.10.00.0
Hotel tax0.00.00.00.00.0
Property transfer tax2.42.53.50.00.0
Stamp tax0.71.01.11.31.9
Penalties0.51.01.21.52.5
Tax on illegally imported cars0.40.10.00.00.0
Other indirect taxes0.40.30.30.00.0
Taxes on International Trade344.2347.3376.3433.4492.0
Taxes and duties on imports334.8335.5372.5415.3480.5
Import tariffs on petroleum99.7117.8143.6150.7146.0
Import tariffs (non-petroleum)231.5209.8217.5246.4290.0
Fees on petroleum products1.81.82.01.92.5
Import fees1.86.19.416.37.0
Sur tax on petroleum0.00.00.00.035.0
Taxes on exports8.29.92.716.58.5
Timber5.63.31.712.75.0
Rubber1.65.60.02.62.0
Other products0.91.01.01.31.5
Penalties1.22.01.11.63.0
Nontax revenue175.5271.3230.1354.8420.0
Receipts on public property92.7134.1120.489.4171.8
Fisheries7.17.48.29.212.7
Forests27.537.422.836.351.5
Receipts from public enterprises34.936.455.530.565.6
Factory leases10.18.48.78.816.5
Amortization payments1.04.05.61.11.9
Surplus on working capital0.60.10.00.00.0
Operating surpluses of public enterprises0.00.09.20.00.0
Civil aviation17.117.117.719.242.6
Tourism receipts0.01.00.70.84.2
Sale of material0.00.30.40.00.0
Transportation fees0.30.20.20.00.1
Receipts from commercial activity0.20.00.00.00.0
Sales of electricity to provinces0.00.10.00.00.0
Receipts from water supply4.10.80.00.00.0
Others1.44.413.00.40.4
Royalties and concessions6.233.23.51.818.9
Petroleum concessions0.931.62.50.70.4
Mining concessions0.20.50.30.22.0
Others5.11.10.70.916.5
User fees8.06.610.90.10.0
Lease of market stands4.74.18.00.00.0
Pre-paid fees for car parking1.30.81.00.10.0
Pre-paid fees for ferries1.51.21.30.00.0
Pre-paid fees for auction stands0.40.40.50.00.0
Building leases8.712.618.811.523.0
Other0.20.60.80.00.2
Other nontax revenue82.9137.2109.7265.5248.2
Posts and telecommunication63.683.087.2108.9150.3
Ratio-TV (advertisement)0.10.00.00.00.0
Public services12.846.017.5141.979.0
o.w. Visa fees8.023.87.217.223.6
Timber export license fee0.00.00.00.00.0
Product quality control0.71.75.37.84.8
License fee for establishing companies0.30.20.31.40.8
Car sticker1.21.31.21.52.0
Other documents0.02.8190.60.4
Sales of tax documents0.00.10.10.10.1
Sales of number plates0.40.50.70.50.6
Quota auction and export licenses108.146.0
Others2.20.80.84.70.7
Interest2.90.03.40.00.0
Nontax revenue of provinces1.40.10.10.10.0
Banking profit10.015.0
Other nontax revenue2.28.11.64.63.9
Capital revenue39.212.333.213.720.0
Sales of immobile property1.30.90.90.50.0
Sales of land0.00.90.10.00.0
Privatization21.810.532.213.220.0
Other16.00.00.00.00.0
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 11.Cambodia: Budgetary Expenditure by Economic Classification, 1996–2000 1/
19961997199819992000

Budget
(In billions of riel)
Total expenditure1,441.51,259.71,571.21,825.02,242.0
Current expenditure812.9807.8941.21,097.21,285.0
Salaries354.2381.9451.1525.4527.3
Civil administration125.3132.2154.3194.1218.1
Defense and security228.9249.7296.8331.3309.3
Operating costs344.9321.9371.7410.1504.6
Civil administration165.7163.7219.6276.0375.6
Defense and security179.2158.3152.2134.1129.0
Economic transfers15.56.614.312.045.4
Social transfers62.068.070.9103.8116.9
Civil administration55.160.862.894.699.8
Defense and security6.97.18.09.216.8
Interest12.89.514.722.425.0
Other current expenditure23.419.918.423.565.9
o.w. Subsidy to provinces17.216.716.316.026.0
Contribution to international org.6.21.12.14.914.9
Capital expenditure628.6451.9630.0727.8957.0
Locally financed61.6110.3120.4223.6257.0
Externally financed567.0341.6509.5504.2700.0
(In percent of total expenditure)
Total100.0100.0100.0100.0100.0
Current expenditure56.464.159.960.157.3
Salaries24.630.328.728.823.5
Civil administration8.710.59.810.69.7
Defense and security15.919.818.918.213.8
Operating costs23.925.623.722.522.5
Civil administration11.513.014.015.116.8
Defense and security12.412.69.77.35.8
Economic transfers1.10.50.90.72.0
Social transfers4.35.44.55.75.2
Civil administration3.84.84.05.24.4
Defense and security0.50.60.50.50.7
Interest0.90.80.91.21.1
Other current expenditure1.61.61.21.32.9
o.w. Subsidy to provinces1.21.31.00.91.2
Contribution to international org.0.40.10.10.30.7
Capital expenditure43.635.940.139.942.7
Locally financed4.38.87.712.311.5
Externally financed39.327.132.427.631.2
Source: The Ministry of Economy and Finance

For 1996–99, cash and accrual basis.

Source: The Ministry of Economy and Finance

For 1996–99, cash and accrual basis.

Table 12.Cambodia: Budgetary Expenditure by Ministry, 1998–2000 1/
199819992000 (Budget)
MinistryTotalSalariesOperating

Costs
OtherCapital 2/TotalSalariesOperating

Costs
OtherCapital 2/TotalSalariesOperating

Costs
OtherCapital 2/
(In billions of riels)
Total1,0544483691211161,3195184041792181,542527505224257
Royal Palace1343702063110196490
National Assembly1293001385001810620
Senate6330095400
Constitutional Council2110021100
Council of Ministers5774073544331264043250
Foreign Affairs2611132037132221501325120
National Defense3122139370336236928031120690150
Interior17387662101479146721531034630
National Assembly Relation and Inspection0000010100
Economy and Finance109318276213432269403132710
Information16130118130462400
Public Works and Transport13411729432204745380
Agriculture, Forestry and Fishery18781321711302681350
Justice211005130070610
Education, Youth and Sport10280202015611235361831265070
Commerce211004130071410
Industry, Mine and Energy311104121062310
Planning211002110031200
Health4411331012612621501211610420
Tourism211005140071600
Public Worship and Religion110001110021100
Posts and Telecommunication542280241142360764223900
Culture and Fine Arts321005320083400
Social Affairs, Labor and Vocational Training481145119121602714220
Environment111002110041300
Rural Development61104161201281600
Woman Affair and Veteran1000044114115814530
Urbanization and Constitution100002110041300
Water Resources and Metrology3030071600
National Election Committee320320031200
Other00000200203330046257
(In percent of total budgetary expenditure)
Memorandum items:
National Defense304825602546235020391870
Interior161918170111811411020910
Economy and Finance101522541016381821500
Public Works1101621119311170
Agriculture212132132022320
Education1018520122292312241030
Industry000100001000110
Health4290010215023832110
Source: The Ministry of Economy and Finance.

Commitment basis.

Excludes externally financed capital expenditure.

Source: The Ministry of Economy and Finance.

Commitment basis.

Excludes externally financed capital expenditure.

Table 13.Cambodia: Official External Assistance to the Budget, 1996–2000(In billions of riels)
19961997199819992000

Budget
Total official external financing674.2445.9505.4515.4843.4
Budget support149.996.01.54.4150.0
Grants75.846.21.54.40.0
Loans74.049.80.00.0150.0
World Bank74.07.20.00.0
AsDB0.042.50.00.0
Project aid565.8350.8503.9511.0700.0
Grants429.8244.6340.7337.4400.0
Loans137.297.0168.9166.8300.0
World Bank34.166.456.369.8100.0
AsDB103.130.6112.696.9200.0
Pending−1.29.2−5.76.80.0
Amortization−41.4−0.90.00.0−6.6
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 14.Cambodia: Profile of the Commercial Bank System(As of July 2000)
Name of BanksNo. of

Branches
Authorized

Capital (000 U.S.$)
Date of

Operation
Majority

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 Bank Public Co. Ltd.5,000Sep. 25, 1992Thai
Bangkok Bank Public Co. Ltd.5,000Sep. 26, 1992Thai
Thai Farmers Bank Public Co. Ltd.5,000Aug. 21, 1992Thai
Credit Agricole Indosuez5,000Mar. 1, 1993French
May Bank5,000Dec. 28, 1993Malaysian
First Commercial Bank13,000Sep. 23, 1998Taiwan POC
Standard Charted Bank13,000Feb 25. 1999British
Private banks (22)
Cambodia Commercial Bank310,000Jul. 1, 1991Thai
Canadia Bank Ltd.65,000Nov. 11, 1991Canadian
Agricultural and Commercial Bank of Cambodia5,000Jul. 9, 1992Thai
Cambodia Public Bank10,000May. 25, 1992Malaysian
Cambodia Farmers Bank 1/15,000Apr. 5, 1992Thai
Cambodia Asia Bank10,000Feb. 23, 1993Malaysian
Chansavangwonk Ban 1/5,000May. 19, 1993Thai
Phnom Penh City Bank 1/5,000Sep. 15, 1993Thai
Singapore Banking Corp.5,000Oct. 27, 1993Singaporean
Singapore Commercial Bank5,000Dec. 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 Oversea 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
Cambodia Agricultural Industrial and Merchandise Bank10 billion rielsJun. 29, 1996Japanese
Advanced Bank of Asia Ltd.7,500Oct. 25, 1996Korean
Angkor Bank10 billion rielsFeb. 4, 1998Cambodian
Source: The National Bank of Cambodia.

Banking licenses are suspended.

Source: The National Bank of Cambodia.

Banking licenses are suspended.

Table 15.Cambodia: Monetary Survey, 1997–2000(in billions of riels; unless otherwise indicated)
1997199819992000
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.Mar.June
Net foreign assets1,1721,1461,6461,6861,7281,8771,9092,0432,0192,3732,510
National Bank8088461,3561,3841,4251,5371,5441,6271,6492,0062,115
Assets1,0331,0761,6101,6331,6751,7801,7811,8791,9242,2792,379
Liabilities225231254249251243237252275273264
Deposit money banks (DMBs)363301290302304340365416370367395
Assets564526572518528568587633585587596
Liabilities200225282216224228223217214220201
Net domestic assets−95−75−564−606−498−562−593−637−576−640−679
Net domestic credit697727871877839852804867876883909
Government (net)548012917517916680941039441
National Bank588413317918217084971079542
Deposit Money Banks−4−4−4−4−4−4−4−4−400
Public enterprises6676665121098
Private sector637641735696655681719762763779860
Other items (net)−791−803−1,435−1,483−1,337−1,414−1,397−1,504−1,453−1,523−1,588
Capital and reserves−875−880−1,473−1,520−1,387−1,434−1,419−1,517−1,451−1,489−1,552
National Bank−272−254−776−794−697−703−683−757−714−777−812
DMBs−603−625−698−726−690−731−737−760−737−712−740
Other8477383750202213−2−33−36
Reserves (DMBs)200246244266346476453462504753773
Bank deposits (MA)−179−184−198−212−285−399−375−376−420−690−683
Other6415−7−17−11−58−56−73−86−96−126
Broad money1,0631,0711,0811,0811,2301,3151,3161,4061,4431,7331,831
Narrow money385415429475543527500501532550546
Currency in circulation356384395441509490454461490505505
Demand deposits2931333334374641424541
Quasi-money6786576536066877888179049111,1831,286
Time deposits1311141520222425323733
Foreign currency deposits6656466395916677657938798791,1461,253
Memorandum items:
Net foreign assets (in millions of dollar)339320411440457495502524535621648
Deposit money banks1058472798090961079896102
National Bank234236339361377405406417437525546
Gross assets299300402426443469468482510596614
Gross liabilities6564636566646265737568
(in millions of SDRs)4848484747474747535351
Foreign currency deposits
(in millions of U.S. dollars)193180160154176202208225233300323
Credit to private sector
(in millions of U.S. dollars)184179184182173179189195202204222
Aver. stock liquidity941971102310641108115612161293135414501560
Velocity 1/9.79.89.69.69.59.39.08.78.58.17.7
Change in net credit to government as percent of beginning period money stock−8.13.18.615.511.78.0−4.6−7.5−6.1−5.4−2.9

Ratio of nominal GDP to average stock of broad money

Source: Data provided by the Cambodian authorities

Ratio of nominal GDP to average stock of broad money

Source: Data provided by the Cambodian authorities
Table 16.Cambodia: Sources of Broad Money Growth, 1997–2000
1997199819992000
Fourth

quarter
First

quarter
Second

quarter
Third

quarter
Fourth

quarter
First

quarter
Second

quarter
Third

quarter
Fourth

quarter
First

quarter
Second

quarter
(Percent increase from previous quarter)
Broad money17.80.80.9−0.113.86.90.16.82.620.15.7
(Increase as percent of previous period broad money)
Contributions
Net foreign assets26.9−2.446.63.73.912.12.410.2−1.724.67.9
Net credit to government2.12.54.64.20.3−1.0−6.51.00.7−0.6−3.1
Credit to public enterprises0.00.00.00.00.00.00.00.5−0.1−0.1−0.1
Credit to private sector6.10.48.8−3.5−3.92.12.93.20.11.14.6
Other items (net)−16.8−1.1−59.0−4.513.5−6.21.3−8.13.7−4.9−3.7
Source: Data provided by the Cambodian authorities
Source: Data provided by the Cambodian authorities
Table 17.Cambodia: Deposit Money Bank’s Balance Sheet, 1997–2000(In billions of riels)
1997199819992000
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.Mar.Jun.
Net foreign assets363301290302304340365416370367395
Foreign assets564526572518528568587633585587596
Foreign liabilities200225282216224228223217214220201
Net domestic assets14414115371719456779109158
Net claims on government−4−4−4−4−4−4−4−4−400
Net claims−4−4−4−4−4−4−4−4−400
Claims00000000000
Deposits44444444411
Claims - treasury bill holdings00000000000
Claims on public enterprises6676665121098
Claims on private sector 1/637641735696655681719762763779860
Net claims on National Bank1491416141413111195
Claims2121232120232219191816
Liabilities7129569988910
Other assets (net)−509−511−599−643−599−687−689−713−702−688−714
Assets229237253237248237238254251277281
Fixed assets110109122124120114112112109110108
Interbank claims3248292955514049577476
Other assets88801028373738593869397
Liabilities738749852880847924926967953965995
Capital603600679713690766779793767755778
Capital and reserves603625698726690731737760737712740
Provisions−12−40−36−30−22162414122418
Valuation adjustment1215181722191819191920
Restricted deposits44544444422
Interbank liabilities2639251629303043495972
Other105104143147125124113128132148144
Reserves200246244266346476453462504753773
Cash1014698212120201828
Deposits at National Bank190232237256338455432442484735745
Other credits to National Bank00000000000
Deposits7076876866397218258629459531,2291,327
Demand deposits2931333334374641424541
Time and savings deposits1311141520222425323733
Foreign currency deposits6656466395916677657938798791,1461,253
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 18.Cambodia: Reserve Money, 1997–2000(In billions of riels, unless otherwise indicated)
1997199819992000
Dec.Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.Mar.Jun.
Reserve money54558260066380390984985693012121216
Currency outside banks356384395441509490454461490505505
Currency in banks1014698212120201828
Bank deposits179184198212285399375376420690683
Required44657161636772748399104
Other136119127151222332303302337591579
(acct 063)1/126116119145215327295292330587574
Other deposits00000000000
(acct 063) in millions dollars393332395987807789155149
Net foreign assets808846135613841425153715441627164920062115
Foreign assets10331076161016331675178017811879192422792379
Gold00469517434423397463439424448
Bank accounts658700435415490644370374471539518
Foreign exchange2515173941351827375444
SDR holdings414142403735313220197
IMF Reserve Position00000000000
Other 2/30932064662267364396698295612431362
Foreign liabilities225231254249251243237252275273264
IMF225231254249251243237252275273264
Other00000000000
Net Domestic Assets−249−264−756−722−622−628−695−771−719−794−903
Net Credit to Government588413317918217084971079542
Net claims588413317918217084971079542
Claims211233261289289285284285283278278
Deposits153148128110106115200187176183236
Net claims on banks−51−60−69−66−67−72−72−77−77−78−80
Claims on banks610778777555
Restricted deposits4356616669737378767779
Loans from DMBs14141566666666
Due to FTBC 3/00000000000
Claims on public enterprises00000000000
Claims on private sector00000000000
Other items (net)−256−288−821−835−738−726−707−791−749−811−861
Assets1218288101102110114119121113110
IMF net5053021−12000
Intra-central bank account85443333733
Fixed and other assets5058597070798283889088
Contested claims00000000000
Capitalized expense1314232827263031272019
Liabilities378370909937840835821910870923971
Capital378370909937840835821910870923971
Capital and reserves272254776794697703683757714777812
Provisions2128292932414142425353
SDRs allocation5874828182797883807979
Income & expense account2714223229121927351426
Valuation adjustment00000000000
Government lending funds00000000000
Interoffice accounts and others00000000000
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 19.Cambodia: Interest Rates, 1997–2000 1/(Percent per annum)
1997199819992000
Mar.Jun.Sep.Dec.Mar.Jun.Sep.Dec.MarJunSepDecMarJune
Deposit rates
Riel savings deposits8.58.87.47.47.97.97.97.57.77.27.17.37.37.2
Riel terra deposits 2/11.411.411.411.411.411.411.411.422.410.99.28.78.78.7
Foreign currency savings deposits2.52.52.32.42.52.52.52.52.62.42.32.22.22.2
Foreign currency term deposits3.83.83.73.84.04.14.13.94.03.93.63.53.53.5
Lending rates 3/
Foreign currency loans: rates charged to private enterprises18.318.418.518.418.518.518.617.717.717.817.517.317.117.3
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 20.Cambodia: Prudential Regulations(As of June 2000)
RegulationsMain featuresIssue date of relevant regulations 1/
Large exposureBanks are not allowed to grant credit to an individual customer exceeding 20 percent of their net worth.Dec. 29, 1997 Feb. 17, 2000
LicensingAll entities that conduct banking activities must be licensed by the NBC. The NBC determines the conditions for licensing.Oct. 25, 1996
LiquidityBanks must at all times have a liquidity ratio of at least 100 percent.Feb. 9, 2000
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 NBC, and vault cash.Aug. 28, 1998
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 NBC, 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 Jan. 1, 1998
Minimum capitalLocally incorporated banks and foreign bank branches must have paid up minimum capital equal to at least CR 50 billion. In addition, each bank must maintain 10 percent of authorized capital in a special capital account at the NBC, 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 Jan. 1, 1998 Feb. 9, 2000
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 net worth, and a limit on the aggregate short position not exceeding 15 percent of the net worth.Jan. 16, 1995
Provisions for bad and doubtful debtsBanks are required to classify their assets and off-balance sheet commitments into the four classifications (standard, substandard, doubtful, and lost), and the specific provisioning shall be recorded depending on the classifications in the account and charged to the profit and loss account in the month identified.Dec. 31, 1994 Feb. 17, 2000
Solvency ratio (capital adequacy)Banks must maintain solvency ratio (net worth divided by the aggregate of assets and off balance sheet commitments) at the minimum level of 20 percent.May 22, 1995 Feb. 16, 2000
Other operational regulations for banks and financial institutionsBanks must maintain their net worth at least equal to their paid-up capital. 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
Source: Data provided by the Cambodian authorities.

Includes regulations, prakas (announcements), and circulars.

Source: Data provided by the Cambodian authorities.

Includes regulations, prakas (announcements), and circulars.

Table 21.Cambodia: Balance of Payments, 1995–99(In millions of U.S. dollars; unless otherwise indicated)
19951996199719981999

Est.
Current account excluding official transfers−513−493−252−230−346
Current account including official transfers−167−193−43−36−126
Trade balance−446−476−263−193−294
Exports798618786854933
Domestic exports 1/268295534610695
Re-exports530322252245238
Imports, f.o.b.−1244−1093−1050−1048−1227
Of which: retained imports, f.o.b.−714−771−798−803−990
Services (net)−97−63−49−97−122
Receipts129198205171202
Of which: tourism5382684563
Payments−226−261−254−268−324
Of which: interest−11−14−17−18−17
Private transfers3146606010
Official transfers346299210194220
Of which: budget support2114500
Of which: project aid154156110105150
Capital account88123−47−6928
Medium-and long-term loans−40−56−81−69−68
Disbursements7975354652
Amortization−119−131−115−115−121
Foreign direct investment151294168120120
Short-term flows and errors and omissions 2/−23−115−135−120−24
Overall balance−79−70−90−105−98
Financing79709010593
Change in gross official reserves−82−52−28−11−32
Debt rescheduling270000
Change in arrears (- = reduction)91122118117122
Use of Fund credit4200−18
Purchases/disbursements4200011
Repurchases/repayments00013
Memorandum items:
Current account balance
Excluding official transfers (in percent of GDP)−16.7−15.5−8.1−8.2−11.5
Including official transfers (in percent of GDP)−5.4−6.1−1.4−1.3−4.2
Gross official reserves 3/182234262390422
In months of imports of goods and services1.52.12.43.63.3
Net international reserves110164197323349
External debt 4/ (in percent of GDP)18.219667571
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 22.Cambodia: Merchandise Exports, 1995–99(In millions of U.S. dollars)
Unit19951996199719981999

Est.
Total exports798618786854933
Domestic exports268295534610695
Garment exports28102279392536
Logs and sawn timber 1/185148224178105
Rubber 1/4132233330
Volume(’000MT)4032285758
Unit price($/MT)1,026985799575513
Rice1115
Volume(’000MT)45530
Unit price($/MT)271243204166
Fish23334
Volume(MT)12214
Unit price($/MT)1,9761,8621,6111,9251,141
Others324310
Re-exports530322252245238
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 23.Cambodia: Merchandise Imports, 1995–99(In millions of U.S. dollars)
19951996199719981999

Est.
Total imports, f.o.b. 1/1,2441,0931,0501,0481,227
Total imports, c.i.f.1,3521,1881,1411,1391,334
Freight & insurance on imports108959191107
Taxable imports955739740553744
Cigarettes193209188144119
Motorcycles3618174436
Beer1514532
VCRs156121
TV sets1713656
Audio cassettes43223
Gold30641136328
Vehicles2225261527
Construction materials192019813
Clothing1721182233
Cloth1310444
Petroleum products10012891111153
Sugar613151422
Cement1215161320
Steel451119
Other153173176141233
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 24.Cambodia: Investment Approvals by Sector, 1995–99(Total fixed assets approved, in millions of US dollars)
19951996199719981999
Total2,240762744853456
Agriculture592615010
Industries301438516652226
Agro Industry1264230
Building Material116910
Cement1367205546
Energy40180170
Food Processing38306912
Garment30469712775
Petroleum25223211
Tobacco422270
Wood Processing52074717914
Others20613425587
Services42511212539196
Construction197281318
Education980020
Infrastructure117021100
Telecommunication63353019
Transporation4100115
Others2425014154
Tourism1,5101194211225
Hotel1401014010625
Tourism Centre1,3707160
Others011000
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 25.Cambodia: Investment Approvals by Investor Country of Origin, 1995–99(Total fixed assets approved, in millions of US dollars)
19951996199719981999
Total2,240762744853456
Cambodia332144166296260
Foreign1,908618578557196
America1488971120
United States109586520
Canada3931160
Asia1,560533437534171
Thailand1952273321
Malaysia1,4111946612414
Singapore1043315211
Indonesia113161
Vietnam00001
Taiwan91644414455
China3373610846
Hong Kong1224699130
Korea1517850
Japan111012
Europe19955884
United Kingdom2339602
France17510111
Switzerland06051
Portugal10110
Others2223641
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 26.Cambodia: Foreign Debt, 1995–99(In millions of U.S. dollars)
19951996199719981999

Est.
Total external debt outstanding 1/5616172,0502,1102,136
Multilateral187258287348387
World Bank60103126156180
AsDB538595128146
IMF7470666461
Bilateral3753581,7631,7621,749
New debt2524293031
Rescheduled debt3493341,7341,7321,718
Total disbursements12175414652
Multilateral10475394550
World Bank2643281524
AsDB3632113026
IMF420000
Bilateral170212
New debt170212
Rescheduled debt00000
Total amortization119131115116118
Multilateral00013
World Bank00000
AsDB00000
IMF00013
Bilateral119131115115115
New debt41111
Rescheduled debt016000
Nonrescheduled debt66666
Total interest67887
Multilateral12332
World Bank01111
AsDB00111
IMF11110
Bilateral55555
Newdebt01111
Rescheduled debt11111
Nonrescheduled debt43333
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 27.Cambodia: Status of State-Owned Enterprises(As of June 2000)
Enterprises to be retainedEnterprises to be privatizedEnterprises already privatized
Controlling MinistryFully activeReduced activityIdleTotalFully activeReduced activityIdleTotalLeased enterprisesJoint venturesSold to private sectorTotal
Agriculture01321522224
Commerce02215520
Council of Ministers1103126
Culture0055
Defense001414
Education0044
Finance0033
Foreign Affair0088
Health001113
Industry02251455
Information0044
Interior00224
Planning0011
Public works and transport114415318
Post and telecommunications00268
State secretariat of civil aviation001111
Tourism0066
Urbanization02255
Phnom Penh Municipality0054155
Total110213120252221022254
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 28.Cambodia: Previously State-Owned Enterprises and Assets Sold to the Private Sector(As of June 2000)
BusinessMinistryBuyer’s nationalityDate of saleSale price (US$)
Total26,794,876
Flour FactoryIndustryJuly 24, 1991450,000
Soap FactoryIndustryCambodiaOctober 25, 199185,800
Mechanical Factory #2IndustryNovember 14, 1991360,000
Mechanical Factory #4IndustryCambodiaNovember 14, 1991225,000
Battery ShopIndustryNovember 14, 1991156,000
Battery ManufacturerIndustryNovember 14, 199680,000
Tire ShopIndustryCambodiaNovember 14, 199140,000
Mechanical Factory #3IndustryNovember 15, 1991440,000
Mechanical Factory #9IndustryNovember 15, 1991420,000
Mechanical Factory #7IndustryNovember 29, 1991155,000
KM 6 StoreIndustryCambodiaJuly 30, 199256,000
Rubber WarehouseIndustryCambodiaJuly 30, 199225,000
Bata Shoe FactoryIndustryAugust 24, 1992140,000
Soap FactoryIndustryCambodiaAugust 24, 199272,000
Kbal Thnal StoreIndustryCambodiaDecember 8, 1992170,000
Print ShopCultureCambodiaJune 15, 1993
Agriculture Material ManufacturerIndustryCambodiaJune 17, 1994
Print ShopCultureCambodiaJune 17, 1995
Tobacco ManufacturerIndustryCambodiaJanuary 26, 19963,400,000
CKCCommerceCambodiaMarch 11, 199610,680,000
SOKLAIT (Warehouse and plant)IndustryCambodiaOctober 21, 19961,250,000
Bran Oil FactoryIndustryCambodiaDecember 4, 19971,020,000
Zeam Conte Garages 1PlanningCambodiaOctober 24, 1997200,000
Zeam Conte Garages 2CommerceCambodiaJanuary 27, 1997200,000
Gas Station in Seam Reap ProvinceFinanceCambodiaOctober 8, 199740,000
Taprum HotelFinanceCambodiaMarch 13, 199770,000
Peace HotelFinanceCambodiaJuly 30, 199840,000
Phnom Kamchay HotelInteriorCambodiaJune 15, 1998155,516
Vacant Land in Kampong spey ProvinceInteriorCambodiaApril 30, 199871,160
Pailin Hotel in Batambang ProvinceCommerceCambodiaFebruary 18, 199845,666
Warehouse in Posat ProvinceCommerceCambodiaApril 2, 199821,980
C.K.C.CommerceCambodia199710,860
Focker Air PlaneCouncil of MinistersCambodiaNovember-98663,970
Warehouse of Crop Company GroupCommerceCambodia199863,600
Chinese HospitalHealthCambodia19982,345,324
Vacant Land near the Cigarette FactoryIndustryCambodia1997132,000
Beng Trabek GarageIndustryCambodiaJanuary 26, 19981,185,000
Beverage FactoryIndustryCambodiaJuly 20, 1998630,000
Warehouse of Acid WaterPublic WorksCambodiaJuly 21, 1998352,000
Vacant Land behind Council of MinistersCouncil of MinistersCambodia1998800,000
KAMTRANSHIPPublic WorksCambodiaMay 18, 1998543,000
Driving School DepartmentPublic WorksCambodiaDecember 5, 1999250,000
Vacant Land in Phnom Penh Health Dept.Phnom Penh MunicipalityCambodiaApril 18, 200041,198
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 29.Cambodia: State-Owned Enterprises Leased to the Private Sector(As of June 2000)
Number ofDuration of lease
Type of assetleases1–14 years15–20 years> 20 years
Total2222274126
Beverage companies2020
Brick, ceramics, stone manufacturers7016
Car repair, ship repair4103
Chemical plants403I
Garages, gas stations16088
Land, buildings5281430
Leather, textiles manufacturers190109
Mechanical plants4031
Miscellaneous manufacturing271620
Restaurants, guesthouse221615
Sawmills9072
Shops, offices2611015
Tire factories6042
Warehouses2401014
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 30.Cambodia: Proposed Privatization Decisions(As of June 2000)
Type of EnterpriseTotal Number

of Enterprises
Decisions
To be liquidatedTo be privatizedTo be retained
Total2713122
Construction55
Ferryboat11
Fishery44
Goods transport523
Manufacturing11
Printing, video211
Rubber plantations77
Service industries11
Others11
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
Table 31.Cambodia: Joint Ventures Entered into by the State(As of June 2000)
CompanyBusinessMinistryShare Retained by the

State in Percent
Private Interest
NationalityShare in Percent
CASOTIMWood ProcessingAgriculture20Russia80
COLEXIMWood ProcessingAgriculture61Japan49
Royal Air CambodgeAirlineCouncil of Ministers60Malaysia40
Cambodia Samart CommunicationTelecommunicationsPost & Telecommunications30Thailand70
Cambodia Shinawatra Co.TelecommunicationsPost & Telecommunications30Thailand70
CAMTELTelecommunicationsPost & Telecommunications30Thailand70
SOCITELTelecommunicationsPost & Telecommunications30Thailand70
Telstra International Ltd.TelecommunicationsPost & Telecommunications40Australia60
CAMINTELTelecommunicationsPost & Telecommunications51Indonesia49
Cambodia Pharmaceutical EnterpriseMedicine ProcessingHealth48China52
Source: The Ministry of Economy and Finance.
Source: The Ministry of Economy and Finance.
ANNEX
Summary of the Cambodian Tax System(as of December 1999)
TaxNature of taxExemptions and deductionsRates
1.Taxes on income, profits, and capital gains
Tax on salariesA monthly tax on income from salaries (including remuneration, bonuses, overtime compensations, and fringe benefits), withheld at source. The tax applies to all salaries received in Cambodia and to salaries received abroad by Cambodian nationals if the employer is a Cambodian resident.Exempted from tax on salaries are: (i) salaries of diplomatic and other foreign officials, such as international organization representatives, (ii) real refunds on professional expenses, (iii) indemnity for the layoff provided under the Labor Law, (iv) additional remuneration with social characteristics provided under the Labor Law, (v) uniform and professional equipment provided by employers, and (vi) travel expense allowance.



Deductions of CR 75,000 from the tax base per month are allowed for each minor dependent child and a spouse without occupation.
Progressive rates applied to monthly income are as follows: (i) CR 0-500,000, 0 percent; (ii) CR 500,001-1,250,000 riel, 5 percent; (iii) CR 1,250,001-8,500,000 riel, 10 percent; (iv) CR 8,500,00 1-12,500,000 riel, 15 percent; and (v) CR 12,500,000 and over, 20 percent.
Tax on property rentalA 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 exempted.10 percent
Tax on profitsA monthly tax on the profits of businesses, including interest, rent and royalty received, and capita) gains from the sale of assets. An enterprise under the real regime system is subject to accounts-based profit taxes, and an enterprise under the estimated regime system is subject to a proxy profits tax based on estimated turnover.Exemption from tax on profits provided under the Law on Taxation are: (i) the income of the Royal Government and institutions of the Royal Government, (ii) the income of religious, charitable, scientific, literary or educational organization, (iii) the income of labor organization, chamber of commerce, industry or agriculture, and (iv) the profit from the sale of agricultural produce. In addition, under the Law on Investment, exemptions can be granted by the Council for the Development of Cambodia (CDC) to investing enterprises for up to 8 years, commencing the year the investment project first becomes profitable.



Deductions allowed from tax on profits are: (J) interest expenses, (ii) depreciation of tangible, and intangible property, and natural resources, and (iii) charitable contributions. Carry forward of losses is also allowed.
For corporation, the tax rates applied to annual profits are as follows: (i) an investment enterprise during the period of tax exemption, 0 percent; (ii) and investment enterprise after the period of tax exemption, 9 percent; (iii) enterprises engage in production or exploitation of oil, gas, natural resources including timber, ore, gold, and precious stones, 30 percent; (iv) other legal person, 20 percent.



For non corporation, progressive rates applied to annual profits are as follows: (i) CR 0-6,000,000, 0 percent; (ii) CR 6,000,001 - 15,000,000, 5 percent; (iii) CR 15,000,001-102,000,000 riel, 10 percent; (iv) CR 102,000,001 - 150,000,000 riel, 15 percent; and (v) 150,000,000 and higher, 20 percent.
2.Patent taxAn annual registration or license fee levied on all businesses, industries, and services. The base is the previous year’s turnover, or estimated turnover. New businesses are taxed on the basis of a provisional estimate.Farmers and business under the family kind are not subject to the tax.For business and industries, the patent is levied according to annual turnover as follows: (i) CR 0-7,500,000, CR 15,000; (ii) CR 7,500,001-12,500,000, CR 21,000; (iii) CR 12,500,001-25,000,000, CR 27,000; (iv) CR 25,000,001-30,000,000, CR 40,000,000; (v) CR 30,000,00 1-37,500,000, CR 60,000,000; (vi) CR 37,500,00 1-50,000,000, CR 90,000,000; (vii) CR 50,000,001-62,000,000, CR 140,000; (viii) CR 62,000,001-75,000,000, CR 180,000; (ix) CR 75,000,001-1 million, CR 240,000, (x) CR 100,000,001-1 billion (max.), 0.1 percent of turnover.



For services, the patent is levied according to annual turnover as follows: (i) CR 0-3,000,000, CR 15,000; (ii) CR 3,000,001-5,000,000, CR 21,000; (iii) CR 5,000,001-10,000,000, CR 27,000; (iv) CR 10,000,001-12,000,000, CR 40,000,000; (v) CR 12,000,001-15,500,000, CR 60,000,000; (vi) CR 15,000,001-20,000,000, CR 90,000,000; (vii) CR 20,000,001-24,800,000, CR 140,000, (viii) CR 24,800,001-30,000,000, CR 180,000; (ix) CR 30,000,001-40,000,000, CR 240,000, (x) CR 40,000,001-400,000,000 (max.), 0.25 percent of turnover.
3.Taxes on domestic goods and services
VATValue added tax, applied any person subject to the real regime system. It covers both goods and services, extending through all stages of importation, production and distribution.Exempted from the VAT are: (i) public postal service, (ii) hospital, clinic, medical and dental service, and the sale of medical and dental goods, (iii) public transportation service, (iv) insurance service, (v) primary financial service, (vi) the import of goods for personal use exempted from customs duties, (vii) non-profit activities in the public interest, (viii) the import of goods for or by foreign diplomats and consular missions, international organization and agencies of technical cooperation of other governments for use in the exercise of their official function.Uniform rate of 10 percent
Turnover taxA monthly tax on business turnover, applied any person subject to the estimated regime system.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.Uniform rate of 2 percent
Excise taxA tax levied on select products, both locally produced and importedNone.
Airline tickets and telecommunication services:2 percent
Motor vehicles (125 cc and larger) and spare parts, cigarettes, and alcoholic products (including beer), entertainment services:10 percent
Automobiles (smaller than 2000 cc) and spare parts, and gasoline and lubricating oil:0 percent
Automobiles (2000 cc and larger) and spare parts:30 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 CR 100 for school registration to CR 2,000 riel for investment authorizations.
4.Slaughter taxTax levied on slaughterhouses based on the value of the livestock that is slaughtered.Exempted from slaughter tax are livestock (i) slaughtered for celebrating national tradition, (ii) slaughtered for research uses, and (iii) killed in accident.Uniform rate of 3 percent of the set price for each animal.
5.Registration tax (Taxes on property transfer)Tax levied on the transfer of land, buildings, motor vehicles, motorcycles, and ships.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 tax.Tax is paid by purchaser at 3 percent of presumptive values.
6.Taxes on international trade
• Taxes on imports
  - Import dutiesEffective January 2000, 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 petroleum products, chemical fertilizers for which values for duty purposes are fixed 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. 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: 20 percent of the prescribed value of $275 per ton.
• Export taxes
  - Tax on timberAd valorem tax levied on the value of processed woods at export. Exports of woods are limited to those cut on government-agreed concessions. An export ban on all logs was introduced on December 31, 1996.None.10 percent
  - Tax on rubberAd valorem tax levied on rubber.None.2, 5, and 10 percent.
  - Other productsAd valorem tax levied on livestock and precious stones.None.5 and 10 percent
7.Other taxes and fees
Motor vehicle taxAnnual levy automobiles and boats.None.
Lorry:160,000 del
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
Tax on unused landTax levied on land in specified cities and areas where there is no construction or with construction but not in use.None.Tax is paid by purchaser at 1 percent of presumptive values.
Source: Data provided by the Cambodian authorities.
Source: Data provided by the Cambodian authorities.

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