Cambodia says it has enough savings to deal with any possible crisis

The Cambodian government has reserved around US$3 billion (RM12.5 billion) to cope with a possible suspension of its access to the EU’s preferential “Everything But Arms” (EBA) agreement.

According to the Phnom Penh Post, the Economy and Finance Ministry said that the government did not spend all of the revenue collected from taxes and it had enough savings to deal with any possible crisis in the future.

The ministry’s General Department of Budget director general Hav Ratanak said that the government had already raised the US$3 billion to mitigate any shock from a possible withdrawal.

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