Cambodia's growth forecast at 6.2 pct in 2024: AMRO-Xinhua

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

Source: Xinhua

Editor: huaxia

2024-04-08 20:45:30

PHNOM PENH, April 8 (Xinhua) -- 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.

Cambodia's economy is expected to grow at 6.2 percent this year, up from 5.3 percent last year, the report said, adding that the inflation is projected to accelerate to 3.1 percent from 2.1 percent.

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

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

"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.