World Bank predicts GDP growth easing

The World Bank has predicted that Cambodia’s GDP will grow at a more modest 6.9 percent this year and next, and slow slightly to 6.7 percent in 2019. However, its prediction is lower than the Asian Development Bank’s flagship annual economic publication, Asian Development Outlook 2017, which forecast Cambodian GDP to grow by 7.1 percent in 2017 and 2018.
 

The bank’s East Asia and Pacific Economic Update for this month says the moderate growth is partly buoyed by rising government spending. Signs of moderation, in particular in the construction and garment sectors, are emerging while a gradual expansion of the agriculture sector is anticipated, thanks to concerted efforts by all stakeholders.
 

Meanwhile, modest improvements may be seen in tourism, supported in part by newly established direct flights and a number of new initiatives to boost arrivals such as “China Ready”. The report added that garment export growth has moderated to 8.4 percent in value terms year-on-year, compared with 12.3 percent in 2015.

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