NBC Releases Financial Stability Report

The National Bank of Cambodia (NBC) organised a dissemination workshop on “Financial Stability Report 2021” outlining the update financial situation and risks, and promoting the public’s understanding on economic and financial situation and outlook for future financial stability in Cambodia.

The event was held here on June 17 under the presidency of H.E. Ms. Chea Serey, Director General of the NBC’s Central Banking, with representatives from banking and financial institutions, and academics in attendance.

The workshop was aimed to promote the understanding of stakeholders and the public on the late progress, risks, and financial policy implementation in the financial sector.

The Financial Stability Report is divided into four chapters related to the economic development environment, the banking sector, the non-banking sector, and the financial infrastructure.

The Financial Stability Report 2021 highlights that Cambodia’s economy is expected to grow at around 5 percent in 2022, mainly supported by exports of agricultural products, transport, telecommunications and improved investment flows and remittances from overseas workers.

In terms of trade and investment, Cambodia is expected to benefit from the Regional Comprehensive Economic Partnership (RCEP) Agreement, the Bilateral Free Trade Agreements and the introduction of a new investment law, it underlined.

It also laid stress on the uncertain COVID-19 pandemic, Russia-Ukraine war, interest rate hike in developed countries which constitute the treats to the Kingdom’s economy.

Speaking at the event, H.E. Ms. Chea Serey said that the NBC will continue to closely monitor the progress of the Cambodian banking system and the economy as a whole and is ready to take the necessary steps to support national economic growth, while maintaining financial stability is a top priority.

“I hope that this Financial Stability Report will be a source of detailed information and analysis for all stakeholders as the National Bank of Cambodia will continue to improve the quality of transparency, analysis and evaluation,” added H.E. Ms. Chea Serey.

Source: Agency Kampuchea Press