Source: AKP
Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen said that sustainable economic growth cannot be attained without the participation from all sectors, mainly political stability.
Speaking to the civil servants, armed forces and local authorities in Mondulkiri province this morning, Samdech Techo Hun Sen said Cambodia’s economy is stable, at around 7 percent growth because we have good political stability, and many local and international investors who are confident in the royal government’s leadership.
All the achievements are obtained thanks to the contribution from all milieus with strong commitment and high responsibility in serving the people and nation, he underlined.
According to the National Bank of Cambodia (NBC)’s projection in August, Cambodia is expected to achieve an economic growth of around 7.1 percent this year, while the inflation rate would be at 3 percent.
The national currency “Riel” would continue to be stable, at around 4,050 Riel per U.S. dollar. The banking sector will continue to perform well and play a more important role to further boost the country’s sustainable economic growth.
In the first half of this year, said NBC, the inflation rate was recorded at 2.8 percent and the exchange rate was around 4,044 Riel per U.S. dollar. Foreign exchange reserve reached US$5.5 billion while the total active assets rose to US$26 billion, the deposits increased by 67 percent and loans by 80 percent.
By Khan Sophirom