(Phnom Penh, Phnom Penh) Prime Minister Hun Sen said that the government is implementing a strategy to revitalize the economy. This year, the economic growth rate will reach more than 5%, and it is even expected to return to the high-speed growth track before the epidemic.
Hun Sen attended the handover ceremony of the 1.056 million doses of AZ vaccine donated by the Italian government today (25th) and said that after the outbreak of the epidemic, Cambodia has adopted strict epidemic prevention measures such as closing the border, resulting in an unprecedented impact on the economy in 2020. However, thanks to a national Covid-19 vaccination campaign that has established a herd immunity barrier across the country, the economy will grow by 3% in 2021.
Hun Sen pointed out that Cambodia released the “Strategic Framework and Projects for Economic Revitalization under the New Normal of the New Coronary Pneumonia Epidemic (2021-2023)” in December last year, with a view to enhancing socio-economic resilience and achieving sustainable and inclusive economic growth.
Hun Sen said that the government has been earnestly implementing the strategy, and the economic growth rate this year will reach more than 5%, and it will be able to return to the high-speed growth track before the epidemic.
In any case, Hun Sen believes that the changes in the epidemic still bring uncertainty, especially that the Russian-Ukrainian war has led to global energy shortages, rising crude oil prices and rising inflation may have a negative impact on investment, trade, regional and global production chains.
According to the “Strategic Framework and Projects for Economic Revitalization under the New Normal of the New Coronary Pneumonia Epidemic (2021-2023)”, the government will invest nearly 6.6 billion US dollars in various development projects this year and next year to promote the recovery of various fields after the new corona pneumonia epidemic.
The framework focuses on driving recovery and further development in four main economic sectors, namely agriculture, tourism, garments and non-garment manufacturing. The government also plans to issue bonds in Cambodian currency for the first time this year, with a bond issuance scale of about 300 million US dollars.
Source: https://cc-times.com/posts/17767