1 April 2014
Growth in Cambodia is
set to ease moderately in 2014 before picking up in 2015 on the back of buoyant
exports and robust agriculture and service sectors, a new Asian Development
Bank (ADB) report said Tuesday. The ADB Outlook 2014 said Cambodia's economic
growth will moderate to 7% this year from 7.2% last year, with a subsequent
edging up to 7.3% next year.
Despite political
uncertainty and the risk of further labor market tension, Cambodia is expected
to exhibit healthy economic growth over the next two years, reflecting stronger
exports, growing services, and strengthening economic recovery in the major
industrial economies. The expected slowdown in 2014 reflects political tensions
since national elections in July 2013 and strikes for higher wages by garment
workers that dented investors' confidence and disrupted some production of
garments and footwear in late 2013 and early 2014.
The bank noted that
net foreign direct investment inflows were buoyant at 1.3 billion U.S. dollars
in 2013, though that figure represents a slight decline from the previous year.
In 2014, growth in industry driven by exports of garments and footwear to US
and European Union is projected to ease to 8.7% from 10.5% the year before. Services
sector growth is expected to moderate to 7.1% this year from 8.4% last year. Assuming
favorable weather, agriculture is seen recovering from last year's floods to
grow by 4.7% from 1.8%.
According to the bank,
the prospect for higher growth looks brighter for 2015, supported by stronger
economic recovery predicted for the EU and US - Cambodia's main export markets.
Source:
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=209875
No comments:
Post a Comment