PHNOM PENH, Feb. 8 (Xinhua) -- Cambodia's international reserves increased to 22.5 billion U.S. dollars in 2024, representing a year-on-year rise of 12.6 percent, the National Bank of Cambodia's Governor Chea Serey said on Saturday.

International reserves under the NBC's control include foreign currencies, gold and SDR (Special Drawing Right).

"Cambodia's level of international reserves is considered as high, (and) that can secure the imports of goods and services for the next seven months," Serey said in a speech during the opening ceremony of the central bank's annual meeting in Phnom Penh.

The governor said lending at the kingdom's banking and financial institutions continued to grow at a slower pace last year due to the slow recovery of sectors such as construction and real estate, tourism, and wholesale and retail.

On the deposit side, she said the banking and financial institutions saw the good growth of 16.3 percent last year, reflecting that the banking system was resilient with strong confidence from the public.

Meanwhile, Serey said Cambodia's economy grew by 6 percent in 2024 as the inflation rate stood at 0.8 percent thanks to lower fuel and food prices as well as a slow rise in the prices of other goods and services. Enditem

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