PHNOM PENH: Cambodia's economic growth is forecast to strengthen in 2024 with continued moderating inflation, said an Asean+3 Macroeconomic Research Office (Amro)'s regional economic outlook released on Monday (April 8).
Cambodia's economy is expected to grow at 6.2 per cent this year, up from 5.3 per cent last year, the report said, adding that the inflation is projected to accelerate to 3.1 per cent from 2.1 per cent.
The South-East Asian country's growth is mainly driven by garment export, tourism, agriculture, as well as construction and real estate.
The growth this year will be mainly driven by robust domestic demand, underpinned by increasing household incomes and recovering investment activity and tourism, the report said.
"Revitalising growth requires boosting investment and embracing technology to raise productivity and resilience, especially of smaller firms," said Amro chief economist Hoe Ee Khor.
According to the report, the kingdom's economy is predicted to expand to 6.4 per cent in 2025, with inflation decelerating to 2.8 per cent. - Xinhua
