The CSO Budget Working Group presents a comprehensive analysis of Cambodia’s 2024 Law on Finance for Management, highlighting the government’s fiscal priorities, revenue projections, expenditure trends, and debt obligations. The paper welcomes progress in transparency, including the public release of the draft budget, while identifying concerns over declining capital investment, reduced allocations for key social sectors, and rising unanticipated expenditures. It analyses tax reforms, public debt sustainability, budget credibility, and oversight gaps that limit accountability. The briefing concludes with targeted recommendations to strengthen revenue mobilization, ensure equitable social spending, improve public investment efficiency, and enhance inclusive budget oversight to support sustainable and citizen‑responsive public finance management.