ADB retains Cambodia’s growth forecast at 5.3pc in 2022

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The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 5.3 percent in 2022, but lowered the 2023 forecast to 6.2 percent from the earlier prediction of 6.5 percent due to weaker global growth, according to its updated outlook report released on Wednesday.

Cambodia’s garments, travel goods, and footwear outputs remained robust, registering 39.8 percent year-on-year growth in the first half of 2022, despite the economic slowdown in the United States and Europe, the report said. The non-garment manufacturing sector continued its strong growth momentum, it said, adding that construction gradually recovered, with imports of construction materials rising 22.8 percent.—APP

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