World

WB retains growth forecast for Cambodia at 5.5% this year

The World Bank maintained its economic growth forecast for Cambodia at 5.5% in 2023 in its East Asia and Pacific economic update report released on October 2.
WB retains growth forecast for Cambodia at 5.5% this year ảnh 1Illustrative image (Photo: phnompenhpost.com)
Phnom Penh (VNA) - The World Bank maintained its economic growth forecast for Cambodia at 5.5% in 2023 in its East Asia and Pacific economic update report released on October 2.

The Southeast Asian country's growth is driven by garment export, tourism, agriculture, and construction and real estate.

Aaditya Mattoo, chief economist of the World Bank's East Asia and Pacific Region, said Cambodia's economic outlook remained positive, boosted mainly by the recovery of the services sector, especially tourism and improvements in agricultural production.

In 2024, the economy is expected to improve further, growing at 6.1% as goods exports are projected to also improve and gradually diversify, he said.

Mattoo said foreign direct investment (FDI) inflows will likely be boosted by the new law on investment and newly ratified free trade agreements./.
VNA
#World Bank #Cambodia #5.5% #economic growth forecast #East Asia and Pacific economic update report #Vietnam #VietnamPlus #Vietnam News Agency Cambodia
Theo dõi VietnamPlus

Related News

Cambodia continues selling US dollars to stabilise exchange rates

Cambodia continues selling US dollars to stabilise exchange rates

The National Bank of Cambodia (NBC) announced on September 19 that it will continue holding two auctions of US dollars (each worth 10 million USD) on September 20 and 22, to ensure exchange rate stability, maintain the purchasing power of the Cambodian riel, and support the economic recovery process following the COVID-19 pandemic.
Cambodia aims to become high-income country in 2050

Cambodia aims to become high-income country in 2050

Cambodia has set a target of becoming a high-income country by 2050, stated Cambodian Prime Minister Hun Manet while addressing the 78th session of the UN General Assembly in New York on September 22.
Vietnam – second biggest exporter of Cambodia

Vietnam – second biggest exporter of Cambodia

China, Vietnam and Thailand shipped more than 11.5 billion USD worth of goods to Cambodia, making up around 70.8% of the country’s total imports of 16.3 billion USD in the first eight months of 2023, according to the General Department of Customs and Excise (GDCE) of Cambodia.

See more