The National Bank of Cambodia (NBC) has announced the launch of an online test of the Macroeconomic Surveillance Database System (MSDS) to monitor the macroeconomic and financial situation of the Kingdom and provide meaningful data for analysis, to be implemented with the technical assistance of the Asian Development Bank (ADB).
A virtual ceremony for the launch on July 23 was led by NBC deputy director-general of technical affairs Khou Vuthy and Anthony Gill, head of the Portfolio Administration Unit at ADB’s Cambodia Resident Mission, the central bank said in a press release.
The NBC says the MSDS will support the formulation of policies aimed at ensuring price stability and sustainable economic growth.
In addition, the MSDS will enable users to monitor and evaluate the progress of economic and financial processes through 70 key indicators, tables, graphs and about 300 additional types of sectoral data organised with the technical assistance of ADB and financial support from the Japanese government.
According to the NBC, key indicators and other data will be compiled monthly, quarterly and annually, and divided into six main macroeconomic sectors – global economic volatility, macroeconomic stability, data from abroad, the fiscal sector, the financial sector, and indicators for comparison with countries in a similar economic situation to Cambodia.
Speaking at the ceremony, Vuthy voiced a “great and heartfelt thanks and appreciation to all the hard work and tireless commitment of the ADB and NBC team during the past five years under the sponsorship of government of Japan.
“The MSDS will provide timely and reliable data as well as consistent data set with the region, ASEAN+3 in particular,” he said.