PHNOM PENH, Feb 1 (Xinhua): Cambodia's economy is expected to grow by 7.2 per cent this year, and pick up to 7.5 per cent next year, the International Monetary Fund (IMF) has said.
"Economic activity remains strong driven by robust exports, tourism and construction despite recent floods and some slowdown during the election in July last year," the IMF said in a statement Friday night. "Inflation is expected to remain low this year due to stable food and fuel prices," it said.
The IMF hailed Cambodia for making good progress in achieving the Millennium Development Goals and reducing poverty substantially.
It said continued improvements in human capital, including through education and training, infrastructure, and business climate are needed to promote inclusive and sustainable growth and further reduce poverty and income inequality.
Cambodian Prime Minister Hun Sen said last month that the country's economy is projected to see the annual growth of around 7 per cent over the medium term. "In a medium term, we expect that the economy remains robust, driven by construction, garment exports, tourism and agriculture," he said in a business forum.
He said the Southeast Asian nation attracted US$4.9 billion investments in various projects last year, a growth of 69 per cent year-on-year.
Since the disputed election in July last year, Cambodia's main opposition party, led by Sam Rainsy, has boycotted parliament and held many protests -- some of them turned violence--in order to demand the resignation of Prime Minister Hun Sen and a re-election.
IMF forecasts Cambodia\\\'s economy at 7.2pc in \\\'14
FE Team | Published: February 02, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like