Despite fresh pressures, economic recovery in Cambodia is projected to continue and real gross domestic product (GDP) growth is forecast to be 5 per cent this year after the strong export performance earlier in the year, and nearly 5.5 per cent in 2023, dampened by external pressures and the impact of rising prices on real disposal income, according to the International Monetary Fund (IMF).
Inflation is expected to peak this year, be lower in 2023, and decline further thereafter, assuming it remains mostly confined to imported goods, IMF said after one of its teams led by Alasdair Scott recently held meetings with Cambodian authorities for the 2022 Article IV consultation September 7-20, 2022.
Inflation hit 7.8 per cent year on year in June this year, following significant increases in fuel and fertiliser costs, although it receded to 4.9 per cent in August. Export orders for the second half of the year have weakened, and the real estate market is slowing, Scott said in an official statement.
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