Cambodia's Economy Forecast To Grow 6.9 Per Cent This Year

[geovalin]

PHNOM PENH, Sept 29 (Bernama) -- Cambodia's economy is expected to expand 6.9 per cent in 2015, 0.2 percentage point lower than the 7.1 per cent growth last year, Chea Serey, director general of the National Bank of Cambodia, said Tuesday.

However, the Southeast Asian nation's gross domestic product (GDP) growth was still among the world's highest growth countries, China's Xinhua news agency reported the central bank chief as saying.

"Our economic growth averaged 8.5 per cent over the last 15 years, making Cambodia the world's sixth highest growth country," she said at the Second Annual NBC Macroeconomic Conference here.

She added that the country's inflation rate is projected to stay below two percent this year.

The country's economy currently depends on four major sectors: garments, tourism, construction and agriculture.

Last week, the Asian Development Bank slightly lowered Cambodia 's economic growth prospect to seven per cent this year, taking into account low growth in garment exports and tourism as well as agriculture.

According to the Cambodian government's reports, the garment sector, the kingdom's largest foreign exchange earner, made US$3 billion in the first six months of this year, an increase of nine per cent over the same period last year.

The country received about 2.3 million foreign tourists in the same six months with a modest growth of 5.6 per cent from a year earlier.

-- BERNAMA

source: http://www.bernama.com.my/bernama/v8/wn/newsworld.php?id=1174931

[Yme]

There's a pretty thorough report on the Cambodia property market here. Everything sounds reasonably bullish

Cambodia Property Market 1H15 Roundup