ADB: GDP to Grow 7.1% in 2017

The latest report from the Asian Development Bank (ADB) describes Cambodia’s economic situation in 2016 as “broadly as expected,” as it predicts a slight increase in economic growth of 0.1 percent, to 7.1 percent. Released yesterday, the update to its annual “Asian Development Outlook” for 2016 presents largely positive data and predictions for Cambodia, and in line with government projections.
 

In a press release accompanying the report, ADB country director Samiuela Tukuafu described Cambodia’s economy as “robust.” “The outlook for Cambodia’s economy, after attaining lower-middle-income status in July, remains robust with exports from the garment and footwear industry rising by 9.4 percent in the first half of this year,” said Mr. Tukuafu.
 

“Better weather since June, following an extended drought, should help a mild recovery in agriculture.” Hiroshi Suzuki, chief economist  at the Business Research Institute for Cambodia, said that the ADB’s update is largely in line with the predictions of the World Bank and the International Monetary Fund. 

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