Cambodia’s Macro Economic Projection for Next Year Remains Good
AKP Phnom Penh, October 23, 2020 —
The National Institute of Statistics has positively projected Cambodia’s macro economy in 2021 even though the nation is currently suffering from flash floods and COVID-19 pandemic.
According to the projection released this morning by H.E. Phay Siphan, Minister Attached to the Prime Minister and Chairman of the Royal Government Spokesperson Unit, Cambodia’s total GDP would reach 117,939 billion Riel in 2021, up from the estimated 110,653 billion Riel in 2020.
But, the inflation rate would see an increase, from 2.8 percent this year to 3.1 percent next year, however the GDP growth is forecasted positively from -1.9 percent this year to 3.1 percent in 2021.
The GDP per capita is projected to be US$1,771 in 2021, up from US$1,683 in 2020 while the the exchange rate would remain stable, at around 4,065 Riel per U.S. dollar.
The foreign reserves would rise from US$16,937 million in 2020 to US$16,981 million, covering about eight months of imports.
By Heng Panha