AMRO Annual Consultation Report, Cambodia 2017
- Andrew Millar
- Aug 29
- 2 min read
AMRO
Report Description
11th December 2017 (PDF, 36 pages)
This publication by the ASEAN+3 Macroeconomic Research Office (AMRO) offers a comprehensive review of Cambodia’s 2017 macroeconomic landscape, examining growth patterns, emerging risks, sectoral developments and key policy recommendations for sustaining stability and resilience.
Summary
The report evaluates Cambodia’s real sector performance, external position, and fiscal and financial sector developments, as well as key vulnerabilities. It also offers forward-looking projections and outlines fiscal and monetary policy recommendations to ensure stability and growth:
GDP growth is forecast at 6.9% in 2017 and 6.8% in 2018, supported by tourism and construction.
The garment sector slowdown is offset by strong construction and a rebound in agriculture and tourism.
The current account deficit narrowed from 9.4% of GDP (2015) to 8.9% (2016), with further improvement expected.
Inflation is projected at 3.3% in 2017 and 3.5% in 2018, driven by oil prices and food costs.
Credit growth slowed from 37.3% (2015) to 13.1% (2016), while NPL ratios rose modestly.
Tax revenue increased by 12.5% in 2016, reflecting strengthened administration under the Revenue Mobilisation Strategy.
Main downside risks include wage-driven competitiveness pressures, potential loss of preferential trade access and vulnerabilities in the financial sector.
About AMRO Annual Consultation Report
The Annual Consultation Report series is produced by AMRO to monitor and evaluate the macroeconomic conditions of its ASEAN+3 member economies.
AMRO began producing country-level surveillance reports shortly after its establishment in 2011, and Cambodia has been covered regularly since then.
Each report is based on in-country consultation missions with government agencies, regulators and stakeholders, and provides independent assessments of economic developments, risks and policy challenges.
About AMRO
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organisation, headquartered in Singapore, established to support macroeconomic and financial resilience and stability in the ASEAN+3 region.
It operates as an independent research and surveillance unit, supporting the Chiang Mai Initiative Multilateralisation (CMIM), a regional liquidity and financial stability mechanism.
AMRO serves 14 member economies: the 10 ASEAN countries, plus China, Hong Kong (China), Japan and South Korea, and carries out several core functions, including macroeconomic surveillance, CMIM-related support, technical assistance, annual consultation reports, policy advice and operating as a regional knowledge hub.