ADB retains forecast of robust economic growth for Cambodia

Source: Xinhua| 2017-09-26 15:38:35|Editor: ying
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PHNOM PENH, Sept. 26 (Xinhua) -- The Asian Development Bank (ADB) maintained its April projection for Cambodia's economic growth at 7.1 percent in 2017 and 2018, said its updated report released on Tuesday.

The Southeast Asian country's growth is mainly driven by garment export, tourism, agriculture and construction.

"Cambodia's economy continues to expand at a robust pace, propelled by export diversification, strong construction and tourism activities, better weather conditions, and supportive fiscal policy," Samiuela Tukuafu, ADB Country Director for Cambodia, said in a press release.

According to the lender's updated report, merchandise exports as indicated by customs data rose by 7.7 percent and imports by 8.1 percent in the first half of 2017.

Inflation averaged 3.3 percent in the first seven months of 2017, the report said, adding that per month, inflation was highest at 4.2 percent in March and lowest at 2.3 percent by July due to softer fuel and food prices.

The average inflation is forecast to come in at 3 percent in 2017, and edge up marginally to 3.2 percent in 2018, it said.