Expert: Cambodia has Fastest Economic Growth in the World as GDP Grows 6.3% in 2022

• 27 July 2022
• Local News
• 2417 Views

Cambodia’s gross domestic product (GDP) will grow by 6.3% in 2022, which is one of the reasons why the country will become one of the fastest-growing economies in the world. This is according to Ivan Tan’s forecast and remarks on fibre2fashion on 25 July 2022.

Cambodia’s GDP will expand by 6.3% this year, higher than projections made by the World Bank, the International Monetary Fund and the Asian Development Bank, and international institutions due to rising global prices of oil and other commodities.

The report also expects the credit growth in Cambodia’s private sector to continue averaging a brisk 20% annually for the next 12-18 months.

“…Cambodia’s long-term growth story remains intact, given its competitive cost structure and young population, making it one of the fastest-growing economies in the world,” said S&P primary credit analyst Ivan Tan.

• Analysis
• Economy and Finance