NBC: Cambodia’s Economy To Grow at 7 Percent in 2017

The National Bank of Cambodia (NBC) predicted that Cambodia's economy would grow at around 7 percent this year, while the inflation rate was projected to rise slightly compared to 2016.

The projection was made known by NBC Governor H.E. Chea Chanto, during the NBC's annual meeting held here on Jan. 21-22.

Big international financial institutions as well as the royal government have predicted that the Cambodian economy would continue to experience a high growth rate of 7 percent in 2017 driven by strong growth of garment exports, construction and real estate, along with the increase in tourism and agriculture sectors, he pointed out.

The exchange rate would continue to stabilise, at around 4.050 Riel per U.S. dollar, added the NBC governor.

According to H.E. Chea Chanto, in 2016 although the global economic growth remained moderate, Cambodia's economy achieved a satisfactory growth at 7 percent. The inflation rate remained at low level, at 2.9 percent on average.

Source: Agency Kampuchea Press