Cambodian Finance Minister Keat Chhon predicted a healthy 7.2 percent GDP growth rate for this year, local media reported on Friday.

"We are trying hard. We can say that the current economy can reach the target," Keat Chhon was quoted by The Cambodia Daily as saying.

The estimate is up from earlier predictions of 6.1 percent by the Finance Ministry, as well as the International Monetary Fund's prediction of 5 percent and an estimate of 6.7 percent by the Statistics Institute at the Ministry of Planning.

Keat Chhon said that the growth would mainly come from agriculture, garment and tourism sectors.

Agriculture, however, was the key reason for the increased growth forecast, Keat Chhon said, adding that due to good rain, government irrigation systems and new forms of farming, the yield of rice has increased on average between 2 to 3 tons per hectare.

Touch Seng Tana of the Council of Ministers Economic, Social and Cultural Observation Unit said that agro-industry was the most crucial factor to help GDP growth.

Cambodian farmers along the borders now have better access to Thai and Vietnamese markets, which is improving trade, Touch Seng Tana said.

He said that the price of rubber has increased sharply this year, along with the amount of land being used to cultivate rubber.

Source: Xinhua