Cambodia expects 7.6% growth in 2013

Cambodia  bridgeAhead of the general elections in Cambodia on July 28, which are overshadowed by a possible ban of opposition leader and ruling prime minister Hun Sen’s strongest competitor Sam Rainsy, the country’s Ministry of Economy and Finance on July 24 said that it expects Cambodia’s economy to grow by 7.6 per cent in 2013.

The growth would be driven by garment exports, agriculture, tourism and construction, according to the ministry. GDP volume would be around $15.19 billion, and GDP per capita would reach $1,036.

The ministry added that the industry sector was expected to grow by 9 per cent, agriculture by 4 per cent, the service sector by 9 per cent, the hotel and restaurant sector by 14 per cent, the financial sector by 12 per cent and real estate by 11 per cent.

However, the International Monetary Fund predicted in April 2013 that Cambodia’s GDP growth in 2013 would just be 6.7 per cent, while the Asian Development Bank and the World Bank put the country’s growth at 7.2 per cent and 7 per cent, respectively.

In 2012, Cambodia grew 7. 3 per cent according to government figures.