Compass Real Estate > Cambodia Real Estate Information > News > New forecast: Cambodia's economic growth will reach 7 percent this year

New forecast: Cambodia's economic growth will reach 7 percent this year

2019-03-01
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Summary:Senior officials from the Ministry of Economy and Finance have confirmed that according to the Ministry of Economy and Finance's forecast in 2019 Cambodia's economic growth will be maintained at around 7 per cent, supported by strong growth in major sectors such as construction Garment, agriculture, tourism and wholesale .

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Over the last two decades, the macroeconomic situation in Cambodia has been remarkably improved, bringing Cambodia's economic growth to a record of 7 percent and this Has change historically transformed Cambodia from a low-income country to a middle-income country . The lowest level in 2015, and the Asian Development Bank considers the country, "a new economic tiger in Asia" in 2016 also .

"In the process of economic development, the Royal Government recognized that the banking and financial sectors is not the banks that can play an important role in generating economic growth," he said, adding that the sector had improved its role. He added that the sector will has improved its role better  if the sector is able to capture the momentum of advanced technology. "

Fostering economic growth, modern finance-oriented financial sectors play a key role in boosting economic national growth.  However, the sector is struggling due to the limited knowledge of technology, knowledge of digital finance and consumer awareness, and the complexity of modern financial transactions, which are the main reasons for the government's re-thinking. Developing a modern financial sector The 4th Industrial Revolution in Cambodia, has progressed through the Rectangular Strategy the 2016-2025 Financial Sector Development Strategy and Consumer Electronic Consumers' Documentary to Support the Modern Financial Sector in Expansion Business and Motivation of Startup also.


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