Cambodia’s economy is predicted to remain resilient and maintain a high growth rate this year in the face of challenges posed by the global economy, according to a National Bank of Cambodia (NBC) press release.

The NBC press release stated that it expects the economy to grow by seven per cent this year, while monetary risks remain manageable given Cambodia’s low 2.6 per cent inflation rate.

In addition, exchange rates remain stable at 4,050 riel to the US dollar and international currency reserves sit at $11.3 billion, enough to guarantee five months of imports.

“Credit in the Cambodian banking sector is expected to accelerate to 17.1 per cent [this year] and financial inclusion will continuously grow, boosting economic activity and reducing the poverty rate,” the NBC release said.

Risks from the external sector – the proportion of the Cambodian economy that interacts with foreign markets – will remain low as the global economy strengthened and world trade picked up.

The current trade war between the US and China could force investment relocation, but the NBC projects that this could attract more investment in the manufacturing and agriculture sectors as the Kingdom can access many key markets duty-free.http://www.phnompenhpost.com/business/cambodian-national-bank-predicts-7-growth-2019