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Logo of Phnom Penh Post newspaper Phnom Penh Post - Central Bank projects 7.1% growth in 2H16

The National Bank of Cambodia (pictured) has predicted 7.1 per cent GDP growth for the rest of 2016.
The National Bank of Cambodia (pictured) has predicted 7.1 per cent GDP growth for the rest of 2016. Heng Chivoan

Central Bank projects 7.1% growth in 2H16

The National Bank of Cambodia held a seminar on the state of the economy in the first half of the fiscal year on Saturday, forecasting 7.1 per cent GDP growth for the rest of the year.

Speakers highlighted the strength of the Kingdom’s banking sector, which is a major boost to the economy.

Bank deposits and loans reached 67 and 80 per cent of GDP respectively for the first half of the year, while inflation remained low at 2.8 per cent over the period.

The local currency exchange rate stood at around 4,044 riel to the US dollar, they added.

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