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Cambodia predicts 7 pct economic growth in 2013

Cambodia 's economy is forecast to grow by 7 percent this year, according to Deputy Prime Minister and Finance Minister Keat Chhon.
Cambodia 's economy is forecast to grow by 7 percent this year,according to Deputy Prime Minister and Finance Minister Keat Chhon.

This year’s growth will be mainly contributed by garment exports,tourism, agriculture, real estate and construction, he said at theopening of the 3 rd Cambodian Industry-Handicraft Fair in Phnom Penhon March 29.

With this expected growth, Cambodiawill get out of the list of low-income and lower-middle-incomecountries at the end of this year, he noted.

TheDeputy PM added that the country's political, macroeconomic andfinancial stability as well as a transparent legal framework willattract more foreign investors to Cambodia in the years to come.

According to the World Bank, lower-middle-income countries are thosewith a per-capita GDP of between 1,006 USD and 3,975 USD.

Last year, Cambodia's per-capita GDP was nearly 1,000 USD, and itis expected to rise to 1,080 USD this year, Keat Chhon said.-VNA
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