IMF representative: 4 Main Factors To Drive Cambodia's Economy in the second half of 2023

Cambodia's economic situation in the second half of 2023 is projected to continue to maintain steady growth which drives by four main sectors, according to Mr. Davide Furceri, Chairman of the new IMF Mission in a meeting with HE. Aun Porn Moniroth, Deputy Prime Minister, Minister of Economy and Finance.

This improved situation depends on the global economic situation, especially Cambodia's major trading partners may improve in the second half of 2023, and this will help promote the economic recovery of Cambodia to some extent through the economic recovery of 4 sectors including exports, services, tourism and non-industrial industries.

“Despite the global economy, surrounded by risks and uncertainties, the Cambodian economy in 2023 will continue to maintain a good growth rate compared to other countries in the region due to the rapid return to normalization of social activities,” he said.

“Economy through the introduction of government intervention measures aimed at mitigating the socio-economic impacts, as well as anticipating the recovery of Cambodia's trading partners,” he continued.

Meanwhile, the World Bank has forecasts Cambodia's economic growth to rank third compared to other ASEAN countries at 5.2% for 2023, and the ADB also ranked Cambodia as the 14th fastest growing economy, growing by 5.8%.

Source: Construction & Property News