February 14, 2012

Cambodia's economy forecast to grow by 6.5 pct in 2012


PHNOM PENH, Feb. 13 -- Cambodia's GDP (Gross Domestic Product) is expected to grow by 6.5 percent this year thanks to increases in the sectors of agriculture, industry and services, according to the government forecast Monday.

The growth rate is the same as the predictions by the World Bank and the Asian Development Bank, but lower than the forecast of 7.25 percent by the International Monetary Fund.

Cambodia's economy mainly relies on agriculture, garment industry, tourism and real estate.

The 2012 forecast by the Finance Ministry showed that the agricultural sector would grow by 4.1 percent, industrial sector is to grow by 9.5 percent, and services sector by 6.4 percent.

At the meantime, the report said that this year's inflation rate would be 5 percent, lower than that of 5.5 percent last year.

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