Arya News - Cambodian Prime Minister Hun Manet said the country had incurred significant losses from the economic impact of the war in the Middle East, including through state subsidies and measures to contain rising fuel prices.
PHNOM PENH – Cambodia has incurred hundreds of millions of dollars in losses from the economic impact of the war in the Middle East, including through state subsidies and measures to contain rising fuel prices, while the government is expecting to spend millions more to support other affected groups, notably including tuk-tuk drivers.
However, Prime Minister Hun Manet highlighted that such spending was necessary and preferable to “using public funds to wage war or buy bullets to fight against Thailand”.
He shared his comments during the September 16 inauguration ceremony of the Luang Mer Hospital.
“The state has to use money to address the problem. As of now, the state has spent more than $360 million just to help cover fuel costs and reduce taxes on companies importing fuel,” he said.
“That is not all; the costs continue to rise. We have provided $350 million in subsidies, not yet including the $50 million spent by the EDC to subsidise electricity prices so they would not increase,” Hun Manet said, referring to Electricité du Cambodge.
He added that he had just signed off on another intervention programme to provide subsidies to more than one million affected families, particularly tuk-tuk drivers. Beneficiaries of the programme will receive three subsidy payments.
“We have to spend nearly $100 million rather than spend that money buying BM [rockets] to fight. We should use that money to help our people first,” Manet said.
He noted that the state had also spent substantial amounts to support displaced people, armed forces and people returning from Thailand after the border conflict began, as well as children affected by the border conflict.