PM: Cambodia’s economy to grow by 6.6 percent next year

PHNOM PENH: The national economic growth for 2024 has been forecasted at about 6.6 percent, up from around 5.6 percent this year, said Prime Minister Samdech Moha Borvor Thipadei Hun Manet.

In his keynote address at the opening ceremony of Cambodia Outlook Conference 2023 themed “Cambodia Vision 2030 and Beyond Charting a Path for Resilient, Sustainable, and Inclusive Prosperity” organized by the Cambodia Development Resource Institute (CDRI) at Sokha Phnom Penh Hotel this morning, Samdech Thipadei Hun Manet said next year, the national will grow faster than 2023.

“With the reform measures in place in the past and the proactive measures to be taken in the future, Cambodia is expected to achieve an economic growth of 5.6 percent in 2023 and the figure will grow faster in 2024 at a rate of 6.6 percent,” he underlined.

Of course, the Premier added, this growth outlook may also face some risks at a time when the current situation remains highly uncertain, therefore, Cambodia must adhere to the spirit of regular and proactive reforms, trying to build resilience and promote economic diversification.

Regarding the economic growth outlook, the World yesterday released its new forecast saying that Cambodia's economic growth is projected to reach 5.4 percent in 2023, marginally down from the 5.5 percent forecast in May, mainly weighting the growth by external pressures and structural shortcomings.

This financial institution also projected that Cambodia's robust economic growth will reach 5.8 percent in 2024 and 6.1 percent in 2025, on anticipated increases in infrastructure investment and benefits from regional trade agreements.

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