Cambodia is projected to have the second fastest-growing economy in Southeast Asia over the next two years, the World Bank said in a regional economic update last week.
Gross domestic product is forecast to expand 6.7 per cent next year and 7 percent in 2014. That compares with an estimated 6.6 percent this year.
“The country’s future prospect is seen to remain healthy with forecasted medium-term growth averaging about 7 per cent per annum over the next five years,” the bank said.
Among Asean countries, only Laos is forecast to post faster growth than Cambodia over the next two years. Lao GDP growth is forecast at 7.5 per cent in both 2013 and 2014, down from an estimated 8.2 per cent this year.
Myanmar is forecast to grow by 6.5 per cent next year followed by Indonesia at 6.3 per cent, the Philippines at 6.2 per cent and Vietnam at 5.5 per cent. Thailand and Malaysia are both forecast to grow by 5 per cent, with Singapore expanding only 2.0 per cent.