Cambodian economy expected to remain buoyant: ADB

3 October 2013
Global Post
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ADB / Asian Development Bank (ADB)

Cambodia’s economic growth rate is expected to exceed 7 percent both this year and next, the Asian Development Bank said Wednesday. … The ADB maintained its forecast for this year’s economic growth at 7.2 percent, supported by strong exports and robust construction and service sectors. … The Asian Development Outlook Update 2013 shows that in the first half of this year, Cambodia’s exports of garments and footwear to the United States and the European Union expanded by 11.3 percent year-on-year to $2.3 billion, and its exports of milled rice doubled to $122 million. Approvals for construction projects rose sharply to $1.9 billion during the same period, while credit for the construction sector grew by 46 percent in June from a year earlier. Regarding the tourism sector, foreign tourist arrivals reached 2.1 million in the first six months of 2013, up 19.1 percent from a year earlier. According to the ADB, the service sector in 2013 as a whole is projected to grow by 7 percent and agricultural output by about 4 percent.

 Global Post News Staff
http://www.globalpost.com/dispatch/news/kyodo-news-international/131002/cambodian-economy-expected-remain-buoyant-adb