Cambodia’s Economy to Grow by 7% in 2013

Phnom Penh: According to DPM and Finance Minister Keat Chhon, Cambodia’s economy to grow by 7% this year. The growth is contributed by garment exports, tourism, agriculture, real estate and construction. The country’s political stability, macroeconomic and financial stability will encourage more foreign investors to come to Cambodia. With this expected growth, Cambodia will get out of the classification of a low-income to a lower-middle-income country at the end of this year, he added. As defined by the World Bank, the Lower-middle-income countries are those with GDP per capita between 1,006 and 3,975 USD. Last year, Cambodia’s GDP per capita was nearly 1,000 USD, and it was expected to rise to 1,080 USD this year, said by Keat Chhon. (Kampuchea Tmey, 30 March)