PHNOM PENH, Sept 18 (Reuters) - Cambodia's economy should grow 7.75 percent next year on the back of healthy agriculture, tourism, construction and garment sectors, the International Monetary Fund (IMF) said on Tuesday.
Although "there is increased regional competition and some softening of demand in key export markets", the economy should grow around 9.5 percent this year, up from the IMF's earlier forecast of 9 percent, it said in a statement.
"These factors are likely to persist in 2008, but real GDP growth is projected to remain strong at 7.75 percent," it said.
"Garment exports continue to grow robustly," it said of Cambodia's biggest export earner, which accounted for $2.6 billion of its $3.7 billion exports last year.
The IMF also noted a strong construction industry putting up hotels and guest houses for the growing tourist industry in a country which drew 1.7 million foreign tourists last year, many of them to the famed Angkor Wat temple complex.
Although "there is increased regional competition and some softening of demand in key export markets", the economy should grow around 9.5 percent this year, up from the IMF's earlier forecast of 9 percent, it said in a statement.
"These factors are likely to persist in 2008, but real GDP growth is projected to remain strong at 7.75 percent," it said.
"Garment exports continue to grow robustly," it said of Cambodia's biggest export earner, which accounted for $2.6 billion of its $3.7 billion exports last year.
The IMF also noted a strong construction industry putting up hotels and guest houses for the growing tourist industry in a country which drew 1.7 million foreign tourists last year, many of them to the famed Angkor Wat temple complex.
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