Cambodia: 2025 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Cambodia
IMF Staff Country Reports, December 2, 2025
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- Cambodia: 2025 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Cambodia
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Bibliographic details
- Published: December 2, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229027755.002
Macroeconomic outcome and near-term outlook
- Cambodia’s economy continued to accelerate in 2024, and growth reached 6.0 percent, bolstered by a strong rebound in garment and agricultural exports and a continued recovery in tourism.
- Economic growth is projected to decelerate to 4.8 percent in 2025 and further to around 4.0 percent in 2026.
- The downward revision from the 2024 Article IV staff report reflects remittance losses and a tourism slowdown, which are expected to weigh on domestic demand.
External sector and trade
- Tariff effects will lower export earnings as manufacturers face margin pressures.
- Trade policy uncertainty could further disrupt export growth.
- A continued recovery in tourism supported 2024 growth, but the sector is expected to slow in 2025, contributing to weaker external demand.
Financial sector and risks
- Risks are tilted to the downside, driven by financial sector vulnerabilities associated with the array of shocks.
- Renewed border tensions could undermine confidence, amplifying adverse effects on domestic demand, tourism, and financial sector stability.
- Successful reintegration of returned workers into the domestic labor market could support a stronger recovery in domestic demand.
Key subjects and themes covered
- Exports
- External debt
- Financial sector policy and analysis
- Financial sector stability
- International trade
- Public debt
Content in this bundle
- 1khmea2025002 Source Pdf