Phnom Penh (FN), Sep. 29 – The International Monetary Fund (IMF) forecasted Cambodia's economy to grow at 2.2% in 2021 and will continue to grow at around 5% in 2022 due to expected recovery in global demand, potential growth of the garment and non-garment manufacturing sectors and the gradual growth of other supporting sectors, according to press release seen by Fresh News on Wednesday.

Global economic growth will be around 6.0% in 2021 and 4.9% in 2022, and the economic recovery of developed and developing countries will be different, the press release said.

As a result of the assessment of the economic and financial situation of Cambodia, the Kingdom's economy in 2021 is expected to achieve a higher growth rate of 2.2%, thanked to a growing manufacturing and agricultural sectors, which is driven by strong external demand, while the construction, real estate and hotel and restaurant sectors have been hit by the February 20 community event.

The IMF also commended the Royal Government of Cambodia for her active efforts in addressing social and economic challenges, actively preventing the spread of COVID19, and the fruitful progress of Cambodia's vaccination campaign.
=FRESH NEWS