A Change of Guard

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Monday 13 October 2014

IMF maintains Cambodia's projected growth at 7.2 pct in 2014

PHNOM PENH, Oct. 10 (Xinhua) -- The International Monetary Fund (IMF) on Friday kept its projection for Cambodia's economic growth rate at 7.2 percent this year and 7.3 percent next year.

The country's economic activity remains strong, driven by garment exports, tourism, agriculture and construction.
IMF's 2014 growth forecast for Cambodia was the same as the World Bank's, but higher than the 7- percent projection by the Asian Development Bank.
Cambodian Prime Minister Hun Sen said on Monday that the country's economic growth will exceed 7 percent this year as inflation was projected to remain low at 3-4 percent.
"Currently, garment, tourism, construction and agriculture sectors are the pillars of economic growth in Cambodia; therefore, we need more investment in other sectors to help drive our economic growth," he said at an international investment conference.

"For 2014 and in the medium term, Cambodia's economic growth is expected to exceed 7 percent per annum, and inflation is expected to be contained within 3 to 4 percent in spite of high inflation in the region and increase in food and oil prices," he said.

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