Economy Strong but IMF Warns of Risks
Strong exports, increasing numbers of tourists and a recovering real estate sector are driving strong economic growth this year, but the gross domestic product outlook could still be offset by an unstable global economy, weak demand from the West and an overheating banking sector, the International Monetary Fund (IMF) said on Friday. Addressing reporters at the end of an 11-day mission to assess Cambodia’s economy, Olaf Unteroberdoester, deputy division chief of the IMF’s Asia-Pacific department, warned that further regulations would have to be enforced by the central bank to avoid too much credit flooding the banking sector. The IMF predicts that GDP growth in Cambodia will reach 6.5 percent this year-in keeping with a government prediction made in February. …
