Cambodia economy expected to grow 6.9 percent in 2015

Cambodia’s economy is expected to expand 6.9 percent in 2015, 0.2 percentage point lower than the 7.1 percent growth last year, Chea Serey, director general of the National Bank of Cambodia, said Tuesday 29 September.

However, the Southeast Asian nation’s gross domestic product ( GDP) growth was still among the world’s highest growth countries, the central bank chief said.

“Our economic growth averaged 8.5 percent over the last 15 years, making Cambodia the world’s sixth highest growth country,” she said at the Second Annual NBC Macroeconomic Conference here.

She added that the country’s inflation rate is projected to stay below 2 percent this year.

The country’s economy currently depends on four major sectors: garments, tourism, construction and agriculture.

Last week, the Asian Development Bank slightly lowered Cambodia ‘s economic growth prospect to 7 percent this year, taking into account low growth in garment exports and tourism as well as agriculture.