Cambodia's public debt stands at $11.09 billion in 1Q24

Economy and Industry

Cambodia's public debt stands at $11.09 billion in 1Q24 As of 1Q2024, Cambodia's public debt totaled $11.09 billion, according to the Ministry of Economy and Finance. The debt comprises 64% from bilateral development partners and 36% from multilateral ones, denominated in USD (46%), SDR (19%), CNY (11%), JPY (11%), EUR (7%), and in local and other currencies (6%). In 1Q2024, Cambodia secured $140.1 million in new concessional loans, 6% of the legal limit, marking a 71% decline from the same period in 2023. Debt service payments amounted to $181.5 million. Deputy Prime Minister Aun Pornmoniroth affirmed that all loans finance public investment projects, ensuring sustainable economic growth and productivity. The bulletin highlights Cambodia's public debt at 19% of GDP, well below the 40% threshold, indicating a low risk of debt distress despite COVID-19 impacts and external factors. (Source: Khmer Times)

Cambodia's April revenue reaches $508 million amidst tax and trade challenges In April, the Cambodian government collected 2,090 billion riels ($508 million), representing 7.15% of the 2024 annual budget expectation, according to the Ministry of Economy and Finance. This revenue included 88% from taxes, 0.8% from grants, and 10.3% from other sources. Despite a 33% month-on-month decline due to reduced income tax revenue and lower international trade taxes, domestic production growth and reduced import dependence indicate an economy that is self-sufficient and independent. The World Bank noted that Cambodia forfeits significant import revenue due to tax exemptions. However, increased domestic production, particularly in automotive and electric vehicles, may offset these declines by boosting local economic growth and tax revenues. The April revenue also saw a significant rise in grants and miscellaneous income, attributed to increased state property income, providing a hopeful outlook for meeting the annual budget target despite current challenges. (Source: Khmer Times)

MAFF Minister urges expansion and conservation in aquaculture to meet market demand Dith Tina, Minister of Agriculture, Forestry, and Fisheries (MAFF), urged the Freshwater Aquaculture Research and Development Center to breed and expand potential fish species to meet market demand during his visit to the center in Peam Chor district, Prey Veng province, and the National Aquaculture Research and Development Institute in Kandal province. He emphasized the importance of conserving endangered fish species, such as the giant barb and spiny eel, and promoting farmed fish as safe and high-quality. Tina also stressed the need to educate consumers about the quality of farmed fish and to crack down on fishing crimes to ensure sustainability. He instructed officials to study economically viable and sustainable breeds, and to consider using solar power to support research efforts. The visit highlighted the MAFF's commitment to sustainable aquaculture and resource conservation. (Source: Khmer Times)

Corporate News

Bosch and Memmert to explore investment opportunities in Cambodia Deputy PM Sun Chanthol is leading a delegation to attract EU investments to Cambodia's priority sectors from June 9th to 18th. Robert Bosch GmbH, a global engineering and technology leader headquartered in Germany, has committed to sending a regional envoy to explore the potential for establishing a factory in Cambodia. This decision was made during a meeting between Sun Chanthol, Deputy Prime Minister, and Alexander Weichsel, Commercial Plant Manager of Bosch in Nuremberg. Chanthol also met with Christiane Riefler-Karpa, Managing Director of Memmert GmbH, which develops and manufactures laboratory equipment. The delegation inspected Memmert's environmentally friendly production facilities. The Cambodian delegation includes officials from the CDC, Cambodian Oknha Association, Orienda International Hospital, and the Ministry of Economy and Finance. Ly Khun Thai, Vice President of the Cambodia Chamber of Commerce, emphasized the importance of clear development plans for successful collaboration with German investors. (Source: Khmer Times)

Stock Market

CSX index drops 0.25% on June 17, 2024 On June 17, 2024, the CSX index closed at 407.7 points, down 0.25% from the previous day. The main board saw gains in PWSA (+0.57%), GTI (+0.44%), and PPAP (+0.15%), while PEPC (-2.30%), PPSP (-0.90%), PAS (-0.66%), and CGSM (-0.41%) experienced declines. MJQE remained unchanged. On the growth board, JSL was down by 2.12%, while DBDE remained unchanged. The total trading volume was 110,096 shares, with a cumulative trading value of KHR 650 million. (Source: YSC Research)

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