PM Hun Sen has expressed his concern over the Cambodian economy, which may be affected by rising global oil prices and increased inflation caused by the Russia-Ukraine conflict as well as the continuing COVID pandemic
The PM said the recent rise in oil prices caused by the conflict had added to the economic burden of the effects of the COVID-19 pandemic which has lasted more than two years.
The PM made his remarks on the occasion of the inauguration of National Road No. 3 Phnom Penh-Kampot on the morning of March 2, 2022.
The PM stated that, “What we have been seeing and affecting the world today is the rise in oil prices, because Russia is also a major oil producer.
Now the rising oil prices are the effects of the war.
In Russia and Ukraine, [this] may make the world economy, plagued by COVID-19, become an additional burden from the Russia-Ukraine war.
Cambodia’s economy was affected by COVID-19, but may be further affected by the Russo-Ukrainian war escalating into a Russian war with Europe.
We have seen the impact on the world, in general and in particular on Cambodia, as oil prices have risen and will to push inflation in other countries higher because of oil prices ”
The PM called on the Cambodian people to understand the increase in gasoline prices, and that the increase in oil prices does not happen only in Cambodia as other countries in the world are affected
Currently, the retail price of gas at stations in Cambodia, set by the Ministry of Commerce, is 4,800 riel for regular gasoline and 4,500 riel for diesel.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
