Cambodia economy remains robust in 2013 amidst challenging global economic atmosphere: WB
Cambodia’s GDP growth was projected to reach 7 percent in equivalent to 15.65 billion U.S. dollars in 2013 despite a challenging global economic environment, the World Bank said Monday. Overall macroeconomic outlook remains positive, having sustained agricultural growth, continued strong performance of the tourism sector, a resilient garment sector and rebounding construction activity, the Bank said in the East Asia Pacific Economic Update. … “Seven percent is a very high growth rate for Cambodia,” Bert Hofman, Chief Economist of the World Bank to East Asia and Pacific Region, said via a video news conference from Singapore. … The Bank estimated that Cambodia’s inflation this year was around 5 percent. World Bank’s GDP projection for Cambodia in 2013 was lower than the forecasts of 7.2 percent by the Asian Development Bank and 7.6 percent by the Cambodian government. The Asian Development Bank (ADB) said last Wednesday that Cambodia’s economy was expected at 7.2 percent in 2013, supported by buoyant exports and robust construction and service sectors. In 2014, the pace is expected to pick up to 7.5 percent as recovery gains traction in Europe and the United States, the ADB said. Cambodian Prime Minister Hun Sen said last month that the country’s economy was projected to grow by 7.6 percent in 2013. The country’s per capita GDP was projected to hit 1,036 U.S. dollars in 2013, up from nearly 1,000 dollars in a year earlier, he said. …
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-10/07/c_132776793.htm
