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Brunei
Thursday, February 9, 2023
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Thursday, February 9, 2023
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    Cambodia gives financial help to 360,000 families affected by inflation and floods

    PHNOM PENH (XINHUA) – Cambodia yesterday began to provide cash handouts to almost 360,000 households with about 1.3 million people affected by inflationary pressures and recent floods, a senior official said.

    “The government is expected to spend USD31 million for inflationary pressures-hit families and USD15 million for recent floods-stricken families for three months (from December to February),” said the undersecretary of state of the Economy and Finance Ministry Chan Narith during a press conference.

    According to a directive signed by Cambodian Prime Minister Samdech Techo Hun Sen last week, those affected families had been identified by the Ministry of Planning to receive cash assistance based on areas.

    Those in the capital Phnom Penh will receive USD25 per family, with each household member getting an additional USD7, and those in provincial towns will be given USD22, with each household member provided an additional USD6, while those in rural areas will receive USD20, with each household member getting an additional USD5.

    Recent flood-hit households in Phnom Penh and 15 provinces will receive USD20 for each family, with each member getting an additional USD4, according to the directive.

    The World Bank said in its Cambodia Economic Update released on Wednesday that rising global energy, fertiliser and food prices prompted a surge in inflation in the country, saying that consumer price inflation accelerated to 7.8 per cent in June but eased to 4.9 per cent in August 2022.

    “Rising inflation is particularly harmful to poor households,” the bank’s report said.

    An aerial view of a flooded region. PHOTO: THE STAR
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