Cambodia: 2023 Article IV Consultation-Press Release; and Staff Report

Cambodia: 2023 Article IV Consultation-Press Release; and Staff Report
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Volume/Issue: Volume 2024 Issue 036
Publication date: January 2024
ISBN: 9798400267727
$20.00
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Money and Monetary Policy , International - Economics ,

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Summary

Cambodia has experienced rapid growth over the past decade, outpacing many regional peers. Growth was driven by industrialization, increased foreign direct investment, and a surge in exports, particularly in labor-intensive manufacturing. The economy underwent significant structural shifts and has made strides in poverty reduction. However, the COVID-19 pandemic caused significant setbacks and may have left longer-term scarring. The challenges ahead are to sustain inclusive growth, diversify exports, and navigate potential headwinds from China's slowing growth.