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Cambodia Highlights Key Emerging Drivers for Macroeconomic Assessment

Cambodia has recommended in-depth analysis of key emerging drivers in the assessment of the macroeconomic and financial situation of Cambodia carried out by the International Monetary Fund (IMF).In a recent meeting to review the preliminary result of t…

Cambodia has recommended in-depth analysis of key emerging drivers in the assessment of the macroeconomic and financial situation of Cambodia carried out by the International Monetary Fund (IMF).

In a recent meeting to review the preliminary result of the assessment, H.E. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, underlined the rising inflation due to the Russian-Ukrainian war and fallouts on Cambodian economy, especially the agriculture, as one of the major contributors.

Another main factor is the issue on rapid growth of private sector's debts and potential risks, especially for the construction and real estate, he added.

He encouraged comprehensive review of Cambodia's revenue collection strategies and funding sources for the next phase.

The deputy prime minister spoke highly of the IMF working group for the high-quality assessment beneficial for Cambodian macroeconomy in the medium and long terms.

He thanked IMF for its continued technical assistance including capacity building and support for policy recommendations for Cambodia's economic development amid on-going high uncertainty of external context.

IMF has also contributed to the success of Cambodia's hosting of the Meeting of ASEAN Finance Ministers and Central Bank Governors (AFMGM), as well as the ASEAN Plus Three Finance Ministers’ and Central Bank Governors’ Meeting, and looked forward to IMF's continued support for the upcoming ASEAN Summit and side meetings.

The hybrid in-person and virtual meeting to review the preliminary result on May 16 was attended by H.E. Kenji Okamura, IMF Deputy Managing Director and its mission working group led by Mr. Alasdair Scott, Head of Mission and Mr. Yasuhisa Ojima, Representative in Cambodia.

Source: Agency Kampuchea Press