Cambodia , with economic growth forecast at 7.2 percent in 2014, will beone of the countries recording the highest growth in Southeast Asia ,according to the World Bank (WB).
Cambodia ’s economy isexpected to grow by 7.2 percent this year, 0.2 percent higher than theprevious prediction, the same as Laos ’ level, the institution saidin its latest Economic Update report.
Myanmar is forecast togrowth 7.6 percent, followed by the Philippines with 6.6 percent;Vietnam , 5.5 percent; Indonesia , 5.3 percent; Malaysia , 4.9percent; and Thailand , 3 percent.
The WB adjusted Cambodia’s economic growth based on “continued global economic recovery, thereturn of stability to the domestic economic environment and renewedconfidence over the rest of the year."
It also maintains its growth forecast for the country at 7 percent for the next two years.
Earlier, the Asian Development Bank (ADB) gave its prediction of 7 percent in 2014 and 7.3 percent in 2015 for Cambodia .
Accordingto the WB’s report, the developing East Asia and Pacific (EAP)region’s economy is lowered to 7.1 percent in 2014 and 2015, down by 0.1percent it had previously forecast for the period.
However, itsaid the region was likely to see steady growth in the next couple ofyears, helped by a pick-up in global growth and trade.-VNA
Cambodia ’s economy isexpected to grow by 7.2 percent this year, 0.2 percent higher than theprevious prediction, the same as Laos ’ level, the institution saidin its latest Economic Update report.
Myanmar is forecast togrowth 7.6 percent, followed by the Philippines with 6.6 percent;Vietnam , 5.5 percent; Indonesia , 5.3 percent; Malaysia , 4.9percent; and Thailand , 3 percent.
The WB adjusted Cambodia’s economic growth based on “continued global economic recovery, thereturn of stability to the domestic economic environment and renewedconfidence over the rest of the year."
It also maintains its growth forecast for the country at 7 percent for the next two years.
Earlier, the Asian Development Bank (ADB) gave its prediction of 7 percent in 2014 and 7.3 percent in 2015 for Cambodia .
Accordingto the WB’s report, the developing East Asia and Pacific (EAP)region’s economy is lowered to 7.1 percent in 2014 and 2015, down by 0.1percent it had previously forecast for the period.
However, itsaid the region was likely to see steady growth in the next couple ofyears, helped by a pick-up in global growth and trade.-VNA
