World Bank says Cambodian political uncertainty has ‘Unclear’ impact
The World Bank said Monday that the impact of Cambodia’s political uncertainty was “unclear” but left its growth forecasts unchanged for this year and next year.
“The Cambodian economy remains robust amidst a challenging global economic environment,” the bank said in its East Asia and Pacific Update.
“Prospects for meeting the growth projection of 7 percent in 2013 appear favorable.
“Overall macroeconomic outlook remains positive, having sustained agricultural growth with favorable weather conditions, continued strong performance of the tourism sector and a resilient garment sector. …
“It is unclear how big an impact the political uncertainty postelections is having on foreign direct investment (FDI) and growth, even with some improvements on the external front with initial signs of improvements in the US and European Union (EU) economies.” …
“As a result of the rapid pace and pattern of growth that enables benefits to be shared by a larger number of people, Cambodian poverty has fallen sharply,” the bank said. …
The Cambodia Herald Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=OTBjN2JiMjBlMzI
