Cambodia’s growth forecast at 6.2 pct in 2024: AMRO

Cambodia’s growth forecast at 6.2 pct in 2024: AMRO

Cambodia’s economic growth is forecast to strengthen in 2024 with continued moderating inflation, said an ASEAN+3 Macroeconomic Research Office (AMRO)’s regional economic outlook released on Monday.

The report said Cambodia’s economy is expected to grow at 6.2 percent this year, up from 5.3 percent last year. It added that inflation is projected to accelerate to 3.1 percent from 2.1 percent.

The Southeast Asian country’s growth is mainly driven by garment exports, tourism, agriculture, construction, and real estate.

The report said growth this year will be mainly driven by robust domestic demand, underpinned by increasing household incomes and recovering investment activity and tourism.

“Revitalizing growth requires boosting investment and embracing technology to raise productivity and resilience, especially of smaller firms,” said AMRO chief economist Hoe Ee Khor.

According to the report, the kingdom’s economy is predicted to expand to 6.4 percent in 2025, with inflation decelerating to 2.8 percent. Xinhua cr.khmertimeskh

Leave a Reply

Your email address will not be published. Required fields are marked *