Economy to grow 4.8 percent next year, bank says

[geovalin]

Cambodia’s economy will grow 2.4 percent this year, with gross domestic product improving to 4.8 percent in 2022, according to Phillip Bank, the only Singapore-owned commercial bank in the Kingdom.

 

Phillip Bank Director Ong Teong Hoon said next year’s pick up will be driven by a revival in the three main sectors of the economy: first garments, footwear and textiles, second non-garments such as electronic components, toys and bicycles and third agriculture. Ong said the economy probably won’t return to pre-Covid-19 growth levels until 2024 because he does not expect a revival in tourism until at least 2023.

 

From a banking perspective he said the National Bank of Cambodia responded to the Coronavirus pandemic in a timely and correct manner and the government also responded well.

 

 

read more https://www.khmertimeskh.com/50956602/economy-to-grow-4-8-percent-next-year-bank-says/