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Cambodia’s economy will grow by 5.3% in 2023, one of the highest in the region

ASEAN+3 Macroeconomic Research Office (AMRO) released Cambodia’s economic prospects, predicting an economic growth rate of 5.3% this year. An AMRO delegation led by Dr. Li Kouqing paid a visit to Deputy Prime Minister and Minister of Finance Aun Pornmoniroth on the 14th. The two sides exchanged views on Cambodia’s macroeconomic and financial stability.

Dr. Li pointed out that since Cambodia resumed opening up, the Cambodian economy has achieved rapid recovery, driven by strong domestic consumption and the recovery of global demand. He said that AMRO predicts that Cambodia’s economic growth rate will reach 5.3% this year, which is one of the countries with the highest economic growth rate in the region. He believes that the recovery of Cambodia’s tourism industry will accelerate this year, the non-garment manufacturing industry will continue to perform strongly, and domestic economic activities will also remain active.

Dr. Li also made three suggestions to Cambodia: Cambodia should begin to restore prudent policies to strengthen the resilience of public finances; continue to monitor and strengthen the resilience of the financial sector to ensure that the financial sector remains stable; and further upgrade infrastructure to enhance national competitiveness.

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