ADB trims Cambodia growth forecast
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The Asian Development Bank (ADB) says it has reduced its growth forecasts to reflect depressed demand for Cambodian products arising from the slump in global markets.
“Falling global demand, especially in Europe and the US, means that the industry sector will grow at a slower pace this year,” said Peter Brimble, senior country economist for Cambodia. According to the update to the annual Asian Development Outlook released yesterday, Cambodia’s gross domestic product is forecast to grow by 6.4 per cent in 2012, down from an earlier forecast of 6.5 per cent.
In 2013, growth is now projected at 6.8 per cent, down from 7.0 per cent forecast earlier.
