According to the Asian Development Bank (ADB) flagship report, titled “Asian Development Outlook 2017: Transcending the Middle-Income Challenge”, Cambodia’s economic growth will remain stable over the next two years at 7.1%, but the Kingdom must now address major systemic challenges to build on its ascension into lower-middle-income status in order to maintain healthy level of development. Samiuela Tukuafu, country director for the ADB, said GDP this year is expected to grow slightly higher than anticipated, supported by higher growth in the major industrial countries. However, he added that the Kingdom remains exposed to several domestic and external risks including rapid expansion of the financial sector, disappointing growth in the Euro area, a tightening of global credit, and the appreciation of US dollar. Jan Hansen, senior country economist for the ADB in Cambodia, said a key area to ensure continued growth for Cambodia is to improve education, adding that facilitating entrepreneurship and innovation are also key pillars for the country’s economic success. (Source: Phnom Penh Post) 

Economy & Industry

07th April 2017

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