World Bank upgrades Cambodia’s growth forecast for this year
The World Bank upgraded Monday its GDP growth forecast for Cambodia to 7.0 percent for this year, up 0.3 of a percentage point from its last projection in December. “In Cambodia, a likely stabilization in high-income country conditions should support further improvements in garment production and exports,” the bank said in explaining the upgrade. … Cambodia’s growth last year, estimated at 7.3 percent, was “faster than expected,” the update said, adding that it was “bolstered by the strong performance of agriculture, construction and tourism and a recovery in garments.” In a separate statement, World Bank East Asia and Pacific Vice President Axel van Trotsenburg said the region accounted for about 40 percent of global growth last year. …
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MjcxMzgzNzA1NWR
