According to the June 2013 globaleconomic prospects, the global economic environment remainsfragile, although the balance of risks is now less skewed tothe downside than it has been in recent years. The US hasbeen signaling an exit from quantitative easing. Developingcountry currencies have come under pressure, and theirinterest rates have been on the rise, contributing toinflation and weaker growth. This may complicate inparticular those economies that have seen big increases incredit during the period when interest rates were low, orwhere current account and government deficits are high.Developing economies remain the main driver of globalgrowth, but their output has slowed compared with thepre-crisis period. The Cambodian economy remains robustamidst the challenging global economic environment, andprospects for meeting the growth projection of 7 percent in2013 appear favorable. In sum, the key messages include: (a)sustain robust growth by promoting diversification andenhancing competitiveness; (b) maintain banking andfinancial stability with effective supervision; and (c)improve fiscal management by increasing revenue and moreefficient spending.
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