IMF says Cambodia's growth remains robust in next two years

Source: Xinhua| 2017-07-25 23:48:49|Editor: Mu Xuequan
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PHNOM PENH, July 25 (Xinhua) -- The International Monetary Fund (IMF) said on Tuesday that Cambodia's economic growth was projected to remain strong at around 7 percent in 2017 and 2018, driven by robust construction and tourism activity.

"Cambodia's economic outlook is positive, although there are downside risks," the lender said in a press release.

According to the government's latest figures, the country's construction received a total investment of 4.94 billion U.S. dollars in the first six months of 2017, up 27 percent over the same period last year.

On the tourism side, the sector attracted some 2.28 million foreign tourists during the first five months of 2017, a 12.5-percent rise over the same period last year.

According to the IMF, Cambodia has grown rapidly over the past few decades, supported by a stable macroeconomic environment, an open and market-oriented economy, its location in the world's fastest-growing region, and its relatively young population.

It added that poverty in the country has declined, although a significant share of the population remains vulnerable.