H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, met with Mr. Davide Furceri, the IMF mission chief to Cambodia, after his completion of the Article IV Consultation Mission 2023 in Cambodia from October 18-31, 2023. In this meeting, the mission team reported on the assessment of the Cambodian economic development, outlook, and recommendations on macroeconomic policies and necessary structural reforms to continue contributing to sustainable economic growth. The mission team forecasted that the Cambodian economy will continue to grow at 5.3%, higher than that of 2022, with inflation remaining low at 2.3% and the banking system remaining stable with lower credit growth than last year.
Along with this assessment, the mission team also provided some recommendations on the monetary and macro-financial policies, most of which the National Bank of Cambodia has been implementing and planning to launch in the future to continue to support economic growth and the stability of the banking system and financial sectors.
Overall, H.E. Governor welcomed the assessment and outlook as well as the recommendations of the mission team. Taking this opportunity, H.E. Governor also thanked the IMF for providing technical assistance and training which have contributed significantly to the development of human resources and the effectiveness of the NBC’s policy implementation.