Phnom Penh (FN), Jun. 13 – Cambodian prime minister Hun Sen urged all parties concerned to work together to maintain good macroeconomic stability, curb inflation and maintain purchasing power of the national currency Khmer Riel amidst global economic crisis caused by the COVID19 pandemic and the Russia-Ukraine crisis.

The premier spoke at the graduation ceremony of the students from the Royal School of Administration on Monday (Jun 13).

The global recession is likely to happen and the food crisis will become a global crisis, the premier added.

"We must be prepared to accept the recession caused by COVID19 crisis and the Russia-Ukraine war," he said, adding that our economy has just recovered from the COVID19 crisis.

On that occasion, the premier also urged to save the national revenue to be prepared in advance of any situation or crisis that may occur.

Samdech reiterated that despite the COVID19 crisis and the ongoing Russia-Ukraine war, Cambodia's economic situation is not at risk of collapse as Cambodia's exports in early 2022 has significantly increased. For agricultural sector, the kingdom has seen a surplus of rice, adequate livestock, and fish farming.

According to the World Bank’s recent forecast, Cambodia's economy is expected to grow by 4.5% in 2022 and 5.8% in 2023.
=FRESH NEWS