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WB forecasts Cambodia’s 2018 economic growth at 7 percent

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.
WB forecasts Cambodia’s 2018 economic growth at 7 percent ảnh 1Illustrative image (Source: VNA)  
Phnom Penh (VNA) - The Cambodian economy is expected to expand 7percent in 2018, compared to 6.9 percent last year, underpinned by externaldemand and upbeat investor sentiment, a new World Bank (WB) report said onOctober 4.

The bank's latest Cambodia Economic Update said garment, travel goods, andfootwear exports increased 16.1 percent year-on-year during the first half of2018, marking a two year high.

Tourist arrivals to Cambodia reached3 million during the period, which represented a 13.6 percent increaseyear-on-year, compared with 11.8 percent in 2017, driven by a surge in thenumber of Chinese travellers by air.

The report said capital inflows tothe Southeast Asian nation continued to increase, mainly foreign directinvestment in construction projects.
 
Especially, investment from Chinasharply increased as Chinese investors wished to take advantage of low-costlabour in Cambodia to develop real estate and manufacturing sectors.

The report also highlighted mainrisks to Cambodia's economy, including rising protectionism and potentialrevision of Cambodia's preferential access to advanced economies.

Cambodia's growth is projected to ease modestly to 6.8 percent in 2019 and 2020due to the peak of global demand, the report said.-VNA 
VNA
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