Regional Surveillance Unit Foresees 7.2 Percent Economic Growth in Cambodia

AKP Phnom Penh, September 13, 2018 —

Official regional macroeconomic surveillance team’s assessment foresees 7.2 percent economic growth – better performance compared with last year’s 7 percent – for Cambodia in 2018.

The projection was shared by Dr Junhong Chang, the director of ASEAN+3 Macroeconomic Research Office (AMRO) when leading her visiting delegation to meet with Governor of National Bank of Cambodia (NBC) H.E. Chea Chanto at his office here in Phnom Penh recently.

The trend, underlined the director, is mainly driven by steady development of Cambodia’s construction, textile and tourism industries.

Government’s increased spending on public investments as well as salaries and benefits for civil servants also contributes to the positive economic performance this year, she continued congratulating the smooth and democratic formulation of the sixth-mandate government.

While well managing the inflation to only about 3 percent, Cambodia continue to attract investment with its approximately US$10 billion foreign exchange reserve, covering around six months of goods and services imports.

From his end, H.E. Chea Chanto thanked Dr. Junhong Chang as well as the AMRO delegation for sharing the encouraging figures and for continuous support to the Royal Government of Cambodia.

He also proposed the visiting macroeconomic surveillance team to support capacity building to relevant Cambodian technical officials at the National Bank of Cambodia.

Originated in March 2010, the ASEAN+3 Macroeconomic Research Office supports ASEAN member countries, China, Japan and Korea with macroeconomic surveillance and implementation of the regional financial arrangement in order to secure national and regional financial stability.

By Mom Chandara Soleil