The government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled.
Increasing local borrowing instead of foreign borrowing will improve the countrys trade balance and current account, said Vong Seyvisoth, Secretary of State at the Ministry of Economy and Finance, during a forum on the national budget for the year 2018 held yesterday.
It will also help the riels exchange rate remain stable, he said.
Decreasing foreign debt will help balance the expenditure budget, improving the countrys current account. Meanwhile, issuing bonds will complement the rise in revenue from tax collection, which has increased significantly in the last f…
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