AMRO’s Continued Good Projection of Economic Performance in Cambodia

AKP Phnom Penh, July 31, 2019 —

The Monthly Update of the ASEAN+3 Regional Economic Outlook (AREO) in July of the ASEAN+3 Macroeconomic Research Office (AMRO) maintained its projection of Cambodia’s strong economic growth.

According to AMRO’s monthly report released recently, Cambodian economic growth will be 7.1 percent this year and 7 percent next year.

This July report also took note that Cambodia does not include restricted reserve for foreign currency deposits.

This report also mentioned about the Council of Ministers’ recent approval of two draft laws, a national strategy bill for financial inclusion, and four solar energy projects: (1) Draft Law on Consumer Protection aimed at protecting the benefits of consumers and promoting market competitiveness in terms of price and quality of certain products or services. (2) Draft Law on E-commerce aimed at facilitating and regulating online business operations for investors and consumers both domestic and international. (3) National Financial Inclusion Strategy (2019–2025) aimed at increasing formal financial inclusion from 59 percent to 70 percent and reducing women financial exclusion from 27 percent to 13 percent. (4) Four solar energy projects with a total expected installed capacity of 140 megawatts: the plants will be built in Pursat, Battambang, Banteay Meanchey and Svay Rieng provinces.

By Khan Sophirom