World Bank raises growth forecast for Cambodia in 2014
The World Bank upwardly revised Monday its GDP growth forecast for Cambodia this year to 7.2 percent, up from its October projection of 7.0 percent. In explaining the higher forecast, the bank’s East Asia and Pacific Economic Update pointed to “the expectation of renewed confidence and the return of political stability, bolstered by a strengthening global economy.” The Cambodian economy has “managed to withstand strong domestic pressures and to maintain high economic growth,” the update said. “Growth is holding up reasonably well despite the adverse effects of political uncertainty and labor unrest since the second half of 2013, while inflation has picked up only marginally.” …
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=YjY5Zjc3MTUwZDg
