ASEAN affected by slowdown
The IMF World Economic Outlook (WEO) forecasts that uncertainty surrounding growth in advanced economies will slightly affect the growth of some ASEAN nations, particularly low-income countries such as Cambodia. A senior IMF official told reporters on the sidelines of the fund’s annual meeting yesterday that some ASEAN economies relying heavily on exports to Europe and the US would be affected by the global economic slowdown. … Late last week, the IMF raised its projection for Cambodia‘s GDP growth to 6.5 per cent in 2012. In the medium term, Cambodia’s growth rate could reach 7.5 per cent, provided there was continued improvement in the business climate, infrastructure and public service delivery, it said. …
