Cambodia’s economy projected to grow 6.1 percent in 2020

cambodias_economy_projected_to_grow_61_percent_in_2020

The Cambodian economy is projected to expand 6.1 percent this year, lower than the growth rate of 7.1 percent recorded in 2018, due to external headwinds, said Secretary of State of Cambodia’s Ministry of Economy and Finance Vongsey Vissoth on January 30.

The country’s garment-textile exports, tourism development and construction sector may be adversely affected if the European Union (EU) suspends the Everything but Arms (EBA) deal with Cambodia, he added.

The EU started the 18-month process that could lead to the temporary suspension of Cambodia’s duty-free trading access to the EU market under the EBA scheme in February last year.

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