IMF Predicts 7% Growth Amid Global Slowdown

Cambodia’s economy will continue to experience robust growth this year and next, despite persistently slow global growth, according to the International Monetary Fund’s (IMF) latest World Economic Outlook, released on Wednesday.

The IMF predicts the growth of Cambodia’s gross domestic product (GDP) to pick up from 6.9 percent last year to 7 percent both this year and in 2017 but offers no explanation for the forecast.

The 7 percent figure falls between recent predictions from other global financial institutions.

The World Bank is expecting GDP growth to slow from 7 percent last year to 6.9 percent this year and to 6.8 percent in 2017.

The Asian Development Bank is more optimistic, predicting growth to rise to 7.1 percent this year and remain at that level in 2017.

The IMF’s country director did not reply to a request for comment.

Both the World Bank and Asian Development Bank have said that Cambodia’s garment and construction sectors will help it weather much slower global growth over the next few years.

© 2016, The Cambodia Daily. All rights reserved. No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.