As the economy continues to rise, global oil and food prices are pushing up inflation, and in Cambodia, poor and vulnerable households with limited savings are likely to suffer the most. Because of this oil price.
An updated report released by the World Bank in June on the state of the Cambodian economy under the heading "Weathering the Oil Price Shock" predicts that the fiscal deficit is expected to reach 6.3% of GDP. Because the government needs to continue to spend on programs to help the poor.
The World Bank Cambodia Country Manager for Cambodia, Mariam Salim, said the "Living with Kovid-19" strategy has enabled the economy to recover. But the road ahead is still unclear. Rising global oil and food prices due to the war in Ukraine are adding to the hardships of the poor and will also reduce poverty.
"The government's past cash transfers, which have been very important in helping poor families who are struggling during the epidemic, will need to continue," she said.
The report also noted that in the medium term, the economy is expected to grow at an average of 6% per year, thanks to favorable new investment laws accompanied by bilateral trade agreements to boost investment and investment. Trade.
At the same time, the Asian Development Bank (ADB) recommended to Cambodia the need to continue efforts to prevent the spread of Kovid-19, continue to strengthen the trust of consumers and investors, promote exports, especially agricultural products. Trade facilitation period and reduce the cost of doing business and maintaining the balance of retail prices in the market. 1Post
