Wed. Feb 28th, 2024

Cambodia ‘s economy is forecast to grow by 7 percent this year,
according to Deputy Prime Minister and Finance Minister Keat Chhon.

This year’s growth will be mainly contributed by garment exports,
tourism, agriculture, real estate and construction, he said at the
opening of the 3 rd Cambodian Industry-Handicraft Fair in Phnom Penh
on March 29.

With this expected growth, Cambodia
will get out of the list of low-income and lower-middle-income
countries at the end of this year, he noted.

Deputy PM added that the country’s political, macroeconomic and
financial stability as well as a transparent legal framework will
attract more foreign investors to Cambodia in the years to come.

According to the World Bank, lower-middle-income countries are those
with a per-capita GDP of between 1,006 USD and 3,975 USD.

Last year, Cambodia’s per-capita GDP was nearly 1,000 USD, and it
is expected to rise to 1,080 USD this year, Keat Chhon said.-VNA

By vivian