Cambodia’s Economy Remains Strong, Despite World Economic Downturn

Despite the downturn of world economy driven by emerging trade issues, Cambodia's economic performance remains strong.

The update was shared by H.E. Chea Chanto, Governor of the National Bank of Cambodia (NBC) during the bank's half-yearly meeting here in Phnom Penh recently.

The NBC's governor continued that the development of banking and financial sectors significantly contribute to promoting and sustaining the country's economic growth.

Furthermore, the Kingdom's robust economy was also powered by positive progress of garment, construction, tourism and agriculture industry, he added.

According to H.E. Chea Chanto, active assets of banking and financial institutions has increased by 19.2 percent year on year, equivalent to 166 percent of the gross domestic product.

The loans have also risen by 103 percent and deposits by 92 percent of the GDP.

Source: Agency Kampuchea Press