The International Monetary Fund (IMF) predicts that Cambodia's economic growth rate will reach 5.5% in 2024 and further rise to 5.75% in 2025. Although this figure is lower than the 6.1% expected in April this year, the IMF emphasizes that Cambodia remains one of the strongest performing economies in the region.

On September 26th, IMF Deputy Director for Asia and the Pacific, Dato 'Gupta, met with Deputy Prime Minister and Minister of Finance and Economics, Ong Ben Monilo, to present the assessment results of Cambodia's macroeconomy. Datagupta pointed out that Cambodia's economic growth in 2024 is mainly due to the recovery of the garment and transportation industries, as well as the sustained recovery of tourism and agriculture. However, the growth of the construction and real estate industries remains sluggish.

Although the IMF has lowered its expectations for Cambodia's economic growth rate this year, it believes that Cambodia's performance in the region and globally remains outstanding. The IMF pointed out that Cambodia's economy is expected to further grow to 5.75% by 2025, mainly relying on the export industry and the sustained development of tourism and agriculture.

The IMF also pointed out that external risks such as global economic slowdown, geopolitical tensions, and climate change may have a negative impact on Cambodia's economy. To address current economic challenges, the IMF has put forward multiple policy recommendations, including enhancing fiscal capacity, promoting tax reform to increase fiscal revenue, prioritizing support for social security, implementing macroprudential policies to maintain financial stability, and promoting economic diversification to enhance competitiveness.

Vice Prime Minister Ong Ben Monilo expressed gratitude for this and emphasized that these suggestions will provide important support for Cambodia's future economic policy-making, especially in implementing the "Five Corners Strategy" (Phase I) to enhance socio-economic resilience and achieve sustainable development.

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