Government Debt-to-GDP expected to exceed 27% this year

Economy and Industry

Government Debt-to-GDP expected to exceed 27% this year The Cambodian government announced a public debt stock of $12.67 billion by the end of Q2 2025, with a debt-to-GDP ratio projected to reach a five-year high of 27.3%. This ratio has steadily increased from 20.8% in 2020 to an estimated 26.1% in 2024. Most regional countries are forecasted to surpass Cambodia's ratio, except for Brunei and Singapore. The report emphasizes that Cambodia's external debt is predominantly concessional, alleviating immediate repayment burdens. While tax revenue had seen growth until 2019, recent declines are attributed to both cyclical and structural factors. The government's 2025 budget aims for sustainable economic growth, institutional effectiveness, and infrastructure development. Of the total public debt, 99% is external, with a significant portion in concessional loans, ensuring that the debt remains sustainable and poses low risk of distress. (Source: Khmer Times)

Cambodia's economy expected to grow around 5% in FY2025, says ADB Cambodia's economic outlook remains strong despite external pressures, with the Asian Development Bank (ADB) projecting GDP growth of 4.9% in 2025 and 5.0% in 2026, lowered from previous estimates due to geopolitical tensions and uncertainties in the US export market. The economy demonstrated resilience early in 2025, with inflation easing from 6.0% to 1.6% due to falling food and fuel prices. Key growth sectors include manufacturing, with garment exports rising, while the services sector is expected to slow. Experts emphasize the importance of maintaining sound domestic policies, including prudent fiscal management and targeted support for key sectors, to mitigate external shocks. Investment in education and infrastructure, as well as strengthening the economy's fundamentals, is critical for long-term growth and stability. (Source: Khmer Times)

Cambodia adopts new tourism strategies amid Thai border conflict Cambodia is diversifying its tourism strategies following border conflicts with Thailand, according to Kim Minea, CEO of the Cambodia Tourism Board (CTB), in an interview with TravelMole. Visitor numbers have shifted from land routes to air travel as road crossings are closed. While air arrivals in Phnom Penh and Siem Reap are rising, border provinces like Battambang are seeing fewer tourists, contributing to lower overall ticket sales. However, there has been an uptick in Chinese arrivals to Angkor Wat during holidays. The CTB is now targeting nearby markets such as Malaysia, Singapore, Indonesia, China, Korea, and Japan while promoting coastal resorts and cultural experiences. Upcoming initiatives include workshops in Europe featuring Cambodian cuisine and opportunities for travel agents to better understand and promote Cambodia's offerings. (Source: Khmer Times)

Corporate News

PPAP sees 50% growth in Q2 net profit, revenue climbs to $12M The Phnom Penh Autonomous Port (PPAP) has reported a significant increase in both net profit and revenue for the second quarter ending June 30, 2025. The port's net profit rose by 50% YoY to $4.3 million from $2.9 million, while revenue increased by 14% to $11.7 million compared to the previous year, as indicated by a recent filing with the Cambodia Securities Exchange. Cumulatively, the port achieved a total revenue of $27 million in the first seven months of 2025, reflecting a 20% YoY growth from $22.8 million during the same period last year. Income from port operations and authority activities saw increases of 21% and 20%, totaling $22.7 million and $3.7 million respectively. In July alone, the port's revenue reached $5.1 million, marking a 16% increase from $4.4 million a year prior. Over the six-month period ending June 30, 2025, the net profit was reported at $7.9 million, an 80% increase from $4.4 million, with revenue of $22.1 million compared to $18.3 million in the previous year. (Source: Kiripost)

Stock Market

CSX index declines 0.13% as losses in PEPC and CGSM offset gains On 1 October 2025, the CSX Index fell 0.13% to close at 403.1 points. On the Main Board, MJQE (+0.51%), PAS (+0.33%), and PPAP (+0.15%) posted gains, while PEPC (-0.77%) and CGSM (-0.41%) recorded losses. PWSA, GTI, PPSP, and ABC closed unchanged. On the Growth Board, DBDE slipped 0.49%, while JSL remained unchanged. Total trading volume reached 44,253 shares, with a turnover of KHR 203 million. (Source: YSC Research)

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