NBC Governor Chea Serey said growth will be driven by rising exports of garments, non-garment manufactured goods and agricultural products, alongside continued inflows of foreign direct investment.
The Asian Development Bank (ADB) has projected that the Cambodian economy will grow by 4 percent this year and 5.5 percent next year, led by a robust recovery of its major trade partners.
The World Bank East Asia and Pacific Economic Update October 2020, released on September 29, forecast the Cambodian economy will contract 2 percent this year.
The US Government has signed an agreement to offer Cambodia about 56 million USD to support its social and economy development programmes across four sectors in 2020.
The Cambodian economy is projected to expand 6.1 percent this year, lower than the growth rate of 7.1 percent recorded in 2018, due to external headwinds, said Secretary of State of Cambodia’s Ministry of Economy and Finance Vongsey Vissoth on January 30.
Cambodia's economy remained robust, underpinned by solid export performance and strong domestic demand, said the latest World Bank Cambodia Economic Update.
Cambodia’s economy grew 7.5 percent in 2018, driven largely by the rapid expansion of exports and ongoing construction boom, according to the World Bank’s Cambodia Economic Update, which was released on May 6.
Nearly 5 million visitors at home and abroad flocked to major destinations in Cambodia during the traditional New Year festival Chol Chnam Thmey 2019 from April 14-16, up nearly 70 percent year-on-year.
The Cambodian economy is expected to expand 7 percent in 2018, compared to 6.9 percent last year, underpinned by external demand and upbeat investor sentiment, a new World Bank (WB) report said on October 4.
Cambodia has attained various socio-economic achievements over the past years, a success of the political platform and the Rectangular Strategy – Phase III of the Cambodian Government led by Prime Minister Hun Sen.
Cambodia is predicted to sustain the 7-percent growth rate it achieved last year in 2017 and 2018, thanks to the development of tourism, construction and garment export.
