>>
Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Apparel/Garments / Cambodia's economic growth to remain strong in 2017 & 2018
Cambodia's economic growth to remain strong in 2017 & 2018
14
Dec '17
Cambodia’s economy is expected to grow at 6.9 per cent and 6.8 per cent in 2017 and 2018, respectively, supported by tourism and construction activities amid a slowdown in the garment sector. But structural reforms and a rebalancing of the budget to capital expenditure is critical in the medium term to sustain its growth, says a recent report.
 
Headline inflation may increase further to 3.3 per cent in 2017 from 3.0 per cent last year, driven by increasing oil prices. It is expected to be stabilised at around 3.5 per cent in 2018, according to the 2017 Annual Consultation Report on Cambodia published by the ASEAN+3 Macroeconomic Research Office (AMRO). The report was prepared on the basis of AMRO’s Annual Consultation Visit to the country in June 2017 and data availability as of September 15, 2017.
 
While deposit growth has remained stable, credit growth has been slowing in 2017. Going forward, the overall credit growth is likely to remain soft with the implementation of tighter prudential regulations. While most financial indicators have remained sound, non-performing loan (NPL) ratios—especially those of Microfinance Institutions (MFIs)—increased moderately, says the AMRO report.
 
Owing to continued high tax revenue collection, the overall fiscal position is expected to remain strong. However, risks stem mainly from the rising labour cost, a strengthening of the US dollar, and loss of preferential treatment in trade and external financing. The domestic financial system is vulnerable to shocks from the global financial market with its heavy dependence on external funding.
 
“While Cambodia’s wage increases should be in line with underlying productivity growth, Cambodia should continue to improve its competitiveness across other dimensions including trade facilitation, logistics improvement and reducing electricity cost,” the report states.
 
“Improving public sector capacity and rebalancing budget allocation towards more capital investment are essential to enhance growth prospects,” it adds.
 
To manage risks in the financial system, the report suggests that it is essential for Cambodia to build sufficient foreign reserves as a buffer against external financial risks and domestic liquidity shocks. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 29th Jan 2022

EU refers China to WTO following trade restrictions on Lithuania

The EU recently filed a case at the World Trade Organisation against...

Pic: Shutterstock

Apparel/Garments | On 29th Jan 2022

Philippines misses Jan 1 RCEP deadline; to conduct public hearing

The Philippines missed the January 1 effectivity of the Regional...

Pic: Shutterstock

Textiles | On 29th Jan 2022

ILO, BGMEA join hands to continue safety momentum in RMG sector

The International Labour Organisation (ILO) and the Bangladesh...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

Rajesh Masand,

Rajesh Masand

Established in 1963, the Clothing Manufacturers Association of India, or...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Ingo Soller, TWE Group

Ingo Soller
TWE Group

The TWE Group is one of the leading global players in the nonwovens...

Ritu Kumar, Label - Ritu Kumar

Ritu Kumar
Label - Ritu Kumar

<b>Ritu Kumar</b> is the most respected designerwear brand in India...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Rayonese Textile Inc., Division de Culp Inc.
IKEA of Sweden AB
Guess Europe Sagl,
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Vianney Textil Hogar S.A. De C.V.
Sainsbury's Argos Asia Limited
Seasalt Limited
Tchibo GmbH
MAS Active / MAS Kreeda / MAS Bodyline
Phong Phu international JSC (PPJ)
Vardhman Textile Ltd
OVS Hong Kong Sourcing Ltd.
Puma
Sportswear Company Spa
KIABI
Tommy Hilfiger
Lisa S.P.A.
Babyshop
SHAHI Exports Pvt Ltd
Abit
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
LC Waikiki
Truetzschler India Private Limited
TESCO INTERNATIONAL SOURCING LIMITED
Gatsby Africa
Recron Polyester from Reliance Industries Limited
BIMBA ;& LOLA SL
The LYCRA Company Singapore  Pte. Ltd
Midas Clothing Limited
Chico’ FAS
International Textile Manufacturers Federation
Huntsman (Singapore) Pte Ltd
Splash
Lifestyle
Amazon China
Brandix Lanka Limited
Alison Hayes Romania
Tory Burch Hong Kong Ltd
Decathlon
G-Star Raw C.V.
Varner AS Retail
Eastman Chemical Company
Helly Hansen Far East Ltd
Target Corporation (MN)
Hela Clothing Pvt Ltd
Maceton Limited
KAS Direct Sourcing
NITI Aayog
Chori Company Limited
Desigual - ABASIC, S.A.
John Varvatos
Boardriders Asia Sourcing Limited
Cat Tuong Real Estate Group Joint Stock Company
Page Industries Limited (Bangalore)
Gloria Jeans
H;&M Hennes ;& Mauritz (Far East) Ltd
Reiter India Private Limited
Under Armour Global Sourcing Ltd
Gap International Sourcing Limited
Hirdaramani International Export Private Limited
Etam Group Strategy Hong Kong Limited
PVH Corporation
The Top Form Brassiere Manufacturing Company Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Alix Partners
T.T. Limited
IDH – The Sustainable Trade Initiative
Benetton Group
Esprit Europe Services GmbH
Calvin Klein
Asos
Gokaldas Exports Limited
Rosset ;& Cia Limited
SYNERGIES HONG KONG LIMITED
Groz-Beckert East Asia LLP
Walmart
Arvind Limited
Lenzing Aktiengesellschaft
J ;& P Coats
Permoda(Koaj/Armi/Pronto/Bkul)
Bluestem Global Sourcing Limited
Aramark Uniform ;& Career Apparel, LLC
THE BOMBAY DYEING ;& MFG.CO. LTD
Sportmaster Ltd.
BIANCA
Aquarelle Clothing Limited
Green Fibre
Grasim Industries Limited
Landmark Group
C;&A Sourcing International Ltd

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search