Resilience Amidst a Challenging Environment : Cambodia Economic Update, September 2013
According to the June 2013 global economic prospects, the global economic environment remains fragile, although the balance of risks is now less skewed to the downside than it has been in recent years. The US has been signaling an exit from quantit...
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| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/09/18382202/resilience-amidst-challenging-environment-cambodia-economic-update http://hdl.handle.net/10986/16632 |
| Summary: | According to the June 2013 global
economic prospects, the global economic environment remains
fragile, although the balance of risks is now less skewed to
the downside than it has been in recent years. The US has
been signaling an exit from quantitative easing. Developing
country currencies have come under pressure, and their
interest rates have been on the rise, contributing to
inflation and weaker growth. This may complicate in
particular those economies that have seen big increases in
credit during the period when interest rates were low, or
where current account and government deficits are high.
Developing economies remain the main driver of global
growth, but their output has slowed compared with the
pre-crisis period. The Cambodian economy remains robust
amidst the challenging global economic environment, and
prospects for meeting the growth projection of 7 percent in
2013 appear favorable. In sum, the key messages include: (a)
sustain robust growth by promoting diversification and
enhancing competitiveness; (b) maintain banking and
financial stability with effective supervision; and (c)
improve fiscal management by increasing revenue and more
efficient spending. |
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