Cambodia’s international reserves increased to $22.5 billion in 2024, representing a year-on-year rise of 12.6 per cent, the National Bank of Cambodia’s Governor Chea Serey stated on Saturday.
International reserves under the NBC’s control include foreign currencies, gold, and SDR (Special Drawing Rights).
“Cambodia’s level of international reserves is considered high and can secure the imports of goods and services for the next seven months,” Serey remarked during the opening ceremony of the central bank’s annual meeting in Phnom Penh.
The governor noted that lending at the kingdom’s banking and financial institutions continued to grow at a slower pace last year due to the gradual recovery of sectors such as construction and real estate, tourism, and wholesale and retail.
On the deposit side, she reported that the banking and financial institutions experienced robust growth of 16.3 per cent last year, indicating that the banking system was resilient with strong confidence from the public.
Meanwhile, Serey mentioned that Cambodia’s economy grew by 6 per cent in 2024, while the inflation rate stood at 0.8 per cent, thanks to lower fuel and food prices as well as a slow increase in the prices of other goods and services. Xinhua
