Cambodia’s economic activity picked up in the first quarter of 2024, driven by a revival in services and goods exports despite subdued domestic demand, according to a World Bank report. Economic growth is expected to improve slightly to 5.8 percent in 2024, up from 5.6 percent in 2023, and further strengthen to 6.1 percent in 2025 and 6.4 percent in 2026.

The report, launched in Phnom Penh on Thursday, noted that construction activity remains subdued, slowing domestic credit growth and affecting private consumption and revenue collection.

Sodeth Ly, a senior economist at the World Bank, said ASEAN has become Cambodia’s second-largest export market at 28 percent, with the US remaining the largest at 31.4 percent.

World Bank country manager Maryam Salim emphasized the need for Cambodia to maintain macro-financial stability, improve the business climate, streamline trade procedures, ensure reliable energy supply, and strengthen education to sustain growth.

Lauri Pynnonen, senior education specialist at the World Bank, highlighted the poor state of Cambodia's education sector, stressing its importance for long-term economic growth. He pointed out the need for better leadership and modern training for teachers.

CITA president Ouk Chhayavy called for higher salaries for public school teachers to reduce their need for second jobs, which would improve their performance and the overall education sector.

MoEYS spokesperson Khuon Vicheka noted that teacher salaries have increased over the past decade and highlighted ongoing efforts to improve teaching standards through training and development.