Confident of rising economy, the Cambodian govt sticks with its 5.6% growth forecast

PHNOM PENH (Phnom Penh Post/ANN): The government has kept its baseline projection for Cambodia’s economic growth this year at 5.6 per cent, which was announced in late January, marking a sharp drop from the 6.6 per cent put forward in October, as the Ukraine conflict and geopolitical unrest caused regional and global economies to slow down, dented demand and sent inflation spiralling.

The current draft version of the Strategic Budget Plan 2024-2026 presents a baseline estimate of 6.6 per cent for Cambodia’s economic growth in 2024 – despite uncertainty in the outlook at the regional and global levels – with the industrial, service and agricultural sectors respectively pegged to grow by 8.5 per cent, 6.9 per cent and 1.1 per cent next year.