Growth to Remain Robust as Cambodia Enters Lower Middle Income Status: NBC

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Khmer Times/May Kunmakara

Although the global economy is still seeing slow growth, including both of Asia’s major economies, and the euro – as well as the currencies of emerging market economies – has fallen against the US dollar, Cambodia’s economic growth was robust and sound last year, according to a report from the National Bank of Cambodia (NBC).

“The robust economic growth this year [2015] lifted Cambodia’s economic status to lower-middle income country by 2016,” said the report “Cambodia’s 2015 Macroeconomic Development and Prospects.”

Globally, economic growth was uneven last year and slower than the year before, the report said. It noted an uptick in growth in the US economy, tepid growth in Japan and Europe, and a slowing growth rate in China due to structural reforms.

Despite this, the NBC forecast that Cambodia’s economic growth would remain strong due to rising garment and footwear exports, falling oil prices, rising domestic demand and consumption and robust construction and real-estate sectors.

read more: http://www.khmertimeskh.com/news/19341/growth-to-remain-robust-as-cambodia-enters-lower-middle-income-status--nbc/