Cambodia’s economy to grow by 6.7% this year: WB

Cambodia’s economy is expected to grow by 6.7 percent in 2013 thanks to anticipating increases in agriculture, foreign direct investment (FDI) and tourism, the World Bank said in its latest outlook Wednesday. “The growth is based on achieving the dividends from focus on higher rice production, inflows of FDI into the growing garment industry and a growing tourism industry,” the bank’s Global Economic Prospects said, forecasting that the country’s growth will be up to 7 percent in 2014. It foresaw that Cambodia’s exports would grow at a slower pace this year due to weak external demand, especially in Europe and the United States.