世界银行-柬埔寨经济更新，2025年6月：应对不确定性，为柬埔寨的未来增加收入（英）

NavigatingUncertaintySPECIAL FOCUSStrengthening Revenues for Cambodia’s FutureCambodia Economic UpdateJune 2025Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedCAMBODIA ECONOMIC UPDATEJune 2025NAVIGATING UNCERTAINTYSPECIAL FOCUSStrengthening Revenues for Cambodia’s FutureiiCambodia Economic Update June 2025TABLE OF CONTENTSACKNOWLEDGMENTS...........................................................................................................................VABBREVIATIONS ....................................................................................................................................VIEXECUTIVE SUMMARY .......................................................................................................................... 1PART 1. RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK ............................................................................. 5Recent developments ......................................................................................................................................6A more challenging global environment ........................................................................................................6Economic activity remained relatively robust but uneven ............................................................................6Goods exports moderated with global trade policy shifts posing additional headwinds ...........................7Foreign tourist spending increased, but remained below 2019 levels...........................................................8Despite strong job growth in manufacturing, overall job creation remained subdued ...............................9Approved FDI rose, while domestic investment sharply slowed ................................................................11Agricultural exports were mixed, despite rising rice production ................................................................12Improved consumer confidence boosted consumption ..............................................................................12Inflation picked up, driven by higher food prices ........................................................................................13As imports rebounded, the current account deficit widened .....................................................................13The riel appreciated slightly, while interest rates softened ..........................................................................13Money supply expanded, while credit growth remained subdued .............................................................14Fiscal consolidation has commenced ...........................................................................................................15Public debt stock reached 25.9 percent of GDP by end-2024 ....................................................................17PART 2. STRENGTHENING REVENUES FOR CAMBODIA’S FUTURE ...........................