On Monday, 5th June 2017, Paragon International University was hosting a public lecture presented by a senior economist of the World Bank Group about a selected issue entitled "Investing in Public Infrastructure and Services.
Mr. Ly Sodeth, the senior economist, presented several intereresting main findings of this special issue of the Cambodia Economic Update (CEU) including:
- Growth remained robust at 6.9 percent in 2016. Vibrant construction activity continued, while garment exports eased due to appreciation of US dollar and strong competition.
- Outlook continues to be favorable and growth is projected at 6.9 percent in the next two years: 2017 and 2018, partly underpinned by export diversification and government spending.
- Downside risks include further increases in US intererest rates (and US dollar appreciation), a slower-than-expected economic recovery in Europe, and uncertainties over global trade.
- Enhance productivity to compensate for rising wages by improving: (i) the quality of basic education/vocational/technical skills, while reducing energy costs; (ii) public service delivery; and (iii) public investment management to scale up pro-growth infrastructure investment.
Prior to joining the World Bank Group in 2009, Mr. Ly Sodeth worked as an economist for the International Monetary Fund (IMF), the office of IMF Resident Representative in Cambodia for five years. He has been the main contributor to the Cambodia Economic Update, a biannual economic report, which is regularly produced and widely disseminated to inform economic policy making and debate in Cambodia.