Vietnam: Economy on a recovery track, says NSDP review

• Dec 22, 2022

Cambodia’s economy is on a recovery track from the pandemic crisis thanks to the government’s efforts and stimulus measures, according to the mid-term implementation of the National Strategic Development Plan (NSDP) 2019-2023.

The Ministry of Planning officially published the report of the mid-term implementation of the National Strategic Development Plan 2019-2023 in a dissemination workshop yesterday.

Speaking at the workshop, Toun Thavrak, Secretary of State of the Ministry of Planning, said that the Covid-19 pandemic resulted negatively in the implementation of the NSDP in the first mid-term, but the government’s efforts helped reduce the impact.

The Covid-19 caused macroeconomic instability, blocking the process of Cambodia’s economic development, particularly interrupting the process of Cambodia’s vision of moving from a low-income country to a low-middle-income country by 2030 and a high-middle-income country in 2050, he said.

“Generally, Cambodia’s socio-economic situation and the result of the implementation of National Strategic Development Plan 2019-2023 in the first mid-term has no improvement. But due to the government’s efforts in controlling Covid-19, setting measures including economic development strategy in the post-Covid-19 has made Cambodia’s economy gradually recover,” Thavrak said.

The NSDP 2019-2023 summarises the key achievements and challenges during the implementation of the National Strategic Development Plan 2014-2018, together with the macroeconomic framework for NSDP 2019-2023.

The mid-term review reveals several accomplishments during the period. “Once the end-term of this plan, we expect that Cambodia’s Gross Domestic Product will increase to 6.2 percent,” Thavrak said.

Source: https://www.khmertimeskh.com/501206792/economy-on-a-recovery-track-says-nsdp-review/