Cambodia’s economy growth to reach 6 percent in 2024
Cambodia’s economy growth to reach 6 percent in 2024
Academician Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance of Cambodia, projected that Cambodia’s economic growth in 2024 will be 6 per cent, mainly supported by continued momentum in export-oriented sectors and the garment sector.
With sustainable peace, social order, safety and security, and political stability as strong foundations, Cambodia has consistently maintained high growth, leading to remarkable economic development, poverty reduction, and lower-middle-income status in 2015, he said at the forum held in Phnom Penh recently.
“In 2024 and 2025, the economy is projected to grow around 6 per cent and 6.3 per cent, respectively, mainly supported by a continued momentum in export-oriented sectors, especially the garment sectors,” he said.
Accommodation and other supporting sectors (Tourism) are expected to continue an upward trend and move toward the pre-pandemic level, he said, adding that resilient momentum in non-garment industries, especially automotive assembly, food, and beverage production, will be maintained with newly emerging production industries.
Inflation in 2024 and 2025 is expected to be at the rate of 2.7 per cent and 2.5 per cent, respectively, he added.
