Cambodia's economy to grow 5% this year, 5.4% in 2023
Cambodia's economy is forecast to grow 5% this year and 5.4% in 2023, constrained by slowing demand in its main export markets in Europe and the United States and by economic conditions in China,...
It was clear that the IMF consults regularly to determine if growth will be supported by policy support and a rise in tourism. However, external conditions and the effects of price increases on consumer spending would dampen this. The IMF stated that inflation rose due to higher fuel and fertilizer prices. However, demand for Cambodian products, which are a major manufacturing center for textiles and footwear, has slowed in 2022. It stated that "uncertainty about the outlook is particularly high and risks are tilted towards the downside." The most serious risks include rising private debt, inflation, and conditions in large, key economies. (Reporting by Pral Chau Thul; Writing and Editing by Martin Petty; Editing done by Kanupriya Kapoor