Development Bank Revises Growth Outlook
A day after the International Monetary Fund (IMF) notched up its forecast for Cambodia’s economy this year, the Asian Development Bank (ADB) yesterday revised its own estimation down slightly, to 6.4 percent. The ADB’s estimation was edged down just 0.1 percent from its last forecast made in February and contrasts slightly with the IMF’s outlook, which increased its estimation to 6.5 percent compared to 6.2 percent six months ago. According to ADB’s periodic update on regional economies, the decision to lower its forecast was made due to weaker than expected demand for garment exports coming from Cambodia. …
