Logo of Phnom Penh Post newspaper Phnom Penh Post - ADB firms up growth prediction

ADB firms up growth prediction

ADB firms up growth prediction

The Asian Development Bank (ADB) has maintained its growth projections for Cambodia in 2014.

The ADB’s midyear outlook for Cambodia, released yesterday, states that Cambodia’s economy still stands to achieve 7 per cent growth by the end of the year, and potentially 7.3 per cent in 2015.

“Cambodia’s economy is expected to remain in good shape over the next two years, reflecting increased political stability and steady macroeconomic management that should further lift investors’ confidence,” ADB senior country economist for Cambodia Jan Hansen said.

Citing rising inflation – now estimated at 4.4 per cent – and the government’s late 2013 crackdown on customs duty charges, the ADB reported that imports had slowed to a 6 per cent year-on-year increase from 24 per cent a year earlier.

The Kingdom’s exports also moderated to a 20 per cent increase as of June 30, down from 27 per cent as at the same time last year.

MOST VIEWED

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Second Hungary business forum set for H2

    Cambodia has asked Hungary to provide GSP- (Generalised System of Preferences) Plus facilities for when the Kingdom sheds its least-developed country (LDC) label, as the two countries prepare to hold a second business forum in the second half (H2) of this year to expand trade

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior

  • Bullets to bracelets: Siem Reap man makes waste from war wearable

    Jewellery is often made from valuable gemstones like emeralds or diamonds and precious metals like gold or silver, or valueless things like animal horns. But a man in Siem Reap has approached the manufacture of delicate pieces from a different angle. His unique form of

  • 61% of 2022 imports came from just 3 markets

    The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s total merchandise imports last year, at $18.245 billion, which was up 11.99 per cent over 2021, according to the General Department of Customs and Excise. Cambodia’s total imports

  • CPP sets out five primary strategic goals for 2023-28

    The Cambodian People’s Party (CPP) on January 29 concluded its two-day extraordinary congress, setting the party’s priority goals for 2023-2028. The ruling party’s congress was attended by more than 3,000 members from across the Kingdom, including the members of the permanent and central committees,