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PHNOM PENH: Senior officials from the Ministry of Economy and Finance predict that Cambodia’s economy will grow by approximately 6.6% in 2024, despite external challenges like geopolitical tensions and a global economic slowdown, including in its key trading partners.
Cambodia is planning for government revenue and spending equivalent to 23.07 per cent and 26.29 per cent of GDP (gross domestic product) in 2024, respectively.
Cambodia is planning for government revenue and spending equivalent to 23.07 per cent and 26.29 per cent of GDP (gross domestic product) in 2024, respectively. This is according to a Royal Government of Cambodia (RGC) circular on the draft Strategic Budget Plan 2024-2026 and 2024 Law on Financial Management – next year’s edition of what is commonly called the “budget law”.
The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) has prepared an additional sum of more than $220 million to loan to the Kingdom’s smaller businesses and give them a better shot at sustainability, to expand and boost economic growth in the post-Covid-19 era.
A Cambodian inter-ministerial meeting scheduled for December 19 is set to explore solutions for plummeting domestic live pig prices seen in recent weeks, raising hopes among farmers that rates could return to sustainable levels.