Mon. May 16th, 2022

    The Asian Development Bank (ADB) has revised its 2020 growth forecast, stating Cambodia’s economy will contract 4 percent, from its previous prediction of a 5.4 percent in June. This is mainly due to improved agricultural performance and increased volume of non-garment manufacturing.

    ADB Cambodia Country Economist David Freedman (L) speaks during the September Outlook Update 2020. ADB

    Based on the current estimates they expects the local economy to rebound to grow 5.9 percent in 2021 while inflation would remain relatively stable at 2.1 percent in 2020 before falling to 1.8 percent in 2021.