The Cambodian economy this year and next year will remain strong, enjoying 7 percent growth, said H.E. Vongsey Vissoth, Secretary of State for Economy and Finance in his report on 2016-2017 economic and public financial situation to a recent Economic and Financial Policy Committee (EFPC) Meeting.
Cambodia is expected to score economic growth of 7.1 percent in 2016 and 6.9 percent in 2017 thanks to the increase in industrial field, mainly garment and local production sectors, he pointed out.
The inflation rate would be at a manageable level - 1.9 percent and 3.3 percent, respectively - and the average exchange rate would stabilise at around 4,050 Riel to a U.S. dollar, he added.
According to H.E. Vongsey Vissoth, last year Cambodia achieved an economic growth of around 7 percent even though the country's agriculture and tourism fields saw a low increase.
He also laid stress on the significant contribution of garment and local production sectors including food, beverages, tobacco, electricity, electronic spare parts and so on in boosting the economic growth.