Cambodia’s economic growth predicted to remain robust in 2019
Cambodia's economy remains robust in 2019 despite concerns over the possible loss of Everything but Arms (EBA) trade scheme with the European Union (EU), Cambodian officials and analysts said.
A condominium building under construction in Phnom Penh’s Diamond Island (Source: //www.khmertimeskh.com/)
Hanoi (VNA) - Cambodia'seconomy remains robust in 2019 despite concerns over the possible loss ofEverything but Arms (EBA) trade scheme with the European Union (EU), Cambodian officialsand analysts said.
According to Cambodian Deputy Prime Minister,and Economy and Finance Minister Aun Pornmoniroth, Cambodia’s economic growth willbe likely to expand 7.1 percent this year, making the GDP (Gross DomesticProduct) value increase to 26.8 billion USD.
Notably, the industrial sector is expected to grow by 10.7 percent, while theservice and agriculture fields are projected to increase by 6.7 percent and 1.6percent, respectively, he said.
Inflation is predicted to rise slightly to 2.8 percent this year from 2.5percent last year, Pornmoniroth added.
Meanwhile, Mey Kalyan, a senior advisor to the Supreme National EconomicCouncil, said Cambodia’s economic situation has been quite stable and ratherrobust this year although it faces many negative elements such as the overalldownward trend of global trade, uncertainties of EBA, and risks of political instabilities.
However, In Channy, Chairman of the Association of Banks in Cambodia, said theconfidence of foreign investors, particularly Chinese ones, in Cambodia'spolitical stability and macroeconomic stability remained strong.
According to Khmer Times of Cambodia, Cambodia’s GDP growth is forecast to lightlydecrease to 7 percent in 2020./.
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A condominium building under construction in Phnom Penh’s Diamond Island (Source: //www.khmertimeskh.com/) 
