Cambodia’s economy is forecast to grow 6.9 percent next year. (Photo: investasia.com)Phnom Penh (VNA) – Cambodia’s economy is forecast to grow 6.9percent next year, higher than a projected 6.8 percent increase in 2017,despite risks including uncertainties over the 2018 elections, the World Bank(WB) said on November 22.
The country’s economic growth has hovered around 7 percent for the past sixyears.
The WB said textile exports moderated and construction sector showed signs ofslowing down; however, manufacturing exports increased and Cambodia drew moretourists, particularly those from China.
Outlook for Cambodia’s economic growth remains positive, but a possibleslowdown of the regional economy, especially China, and potential election-relateduncertainties pose downsizing risks, the WB said.
The same day, Prime Minister Hun Sen affirmed that the politics is stable afterthe dissolution of the main opposition Cambodia National Rescue Party (CNRP).
He stated that exports of garments and leather shoes have not been affectedafter the opposition party’s dissolution.
Garment-textile and footwear, key exports of the country, are shipped mostly tothe EU and the US and create jobs for 754,000 labourers. They also contributed74 percent of the nation’s export revenue in 2016.-VNA
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