The decline in inflation rate is attributed to several factors, including government interventions to stabilise prices of essential goods and the anticipated easing of global commodity prices.
The Regional Comprehensive Economic Partnership and other free trade agreements could attract more foreign direct investment and help Cambodia diversify its productions and exports, said NBC governor Chea Serey at a workshop while launching the Financial Stability Review 2023.
Potential challenges include geopolitical tension, prolonged tightening of monetary policies in advanced countries, weaker-than-expected growth in China and climate change, the report noted.
Those risks could cause slower global economic and trade activities, which could affect exports, investment and capital flows into Cambodia, an official release said.
“The Cambodian economy has shown remarkable resilience and is projected to return to the pre-pandemic growth rate of around 7 per cent by 2028,” Prime Minister Hun Manet had said earlier.
ALCHEMPro News Desk (DS)
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