Kandal (FN), Nov. 2 – Cambodian prime minister Hun Manet stated that Cambodia has used loans for infrastructure development that serves economic purposes.

The premier spoke on Thursday (Nov. 2) during his meeting with nearly 20,000 workers in Kandal province.

“We took loans to invest in major infrastructure development to further develop our economy. Japan, the United States and France also do the same [using loans for investment]. We have never used loans to purchase luxurious cars, airplanes, or buy useless things,” Samdech Thipadei underscored.

Cambodia has a total public debt of USD 10.2 billion as of the first quarter of 2023, of which Cambodia has foreign debt of USD 10.2 billion, while private debt is USD 42.4 million.

The current state of Cambodia's public debt is assessed by the minister of Economy Aun Porn Moniroth as "manageable" and "low risk" despite the economic downturn of Cambodia by the spread of the COVID19 crisis and other external factors.
=FRESH NEWS