PHNOM PENH, Jun 20, 2008 (Xinhua) -- Cambodia's banking sector will remain stable over the next 12 to 18 months due to its consistent economic growth, English-Khmer language newspaper the Cambodian Daily Saturday quoted a report as saying.
"In Cambodia, public confidence in the banking system is recovering," said the report from international financial rating firm Moody's.
Moody's cited Cambodia's economic growth, development in regulatory and financial infrastructure and growing public confidence as reasons for stability in the banking sector.
It also predicted a GDP growth rate of 7.2 percent for Cambodia in 2008, down from 9.6 percent in 2007.
According to government figures, Cambodia has enjoyed double-digit economic growth rate in the past three years, as a result of its political stability and open policy.
"In Cambodia, public confidence in the banking system is recovering," said the report from international financial rating firm Moody's.
Moody's cited Cambodia's economic growth, development in regulatory and financial infrastructure and growing public confidence as reasons for stability in the banking sector.
It also predicted a GDP growth rate of 7.2 percent for Cambodia in 2008, down from 9.6 percent in 2007.
According to government figures, Cambodia has enjoyed double-digit economic growth rate in the past three years, as a result of its political stability and open policy.
2 comments:
Another solid evidence to prove Cambodia is moving in the right direction under PM Hun Sen.
congratulations for regain trust again. please continue to reform as that is never enough. god bless cambodia.
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