The Asian Development Bank (ADB) estimates that Cambodia’s economy will grow at 7 percent in 2014 due to the political crisis over last year’s election finally ending last month.
According to the “ADB Outlook Update 2014” report which was released on September 24 , Cambodia’s economic outlook is promising in light of the recent calm after political tensions and garment industry strikes in February this year.
Cambodia’s key economic sectors, such as garment production, agriculture, tourism and construction have recorded stable growth rates.
The report also confirms that garment and footwear exports totalled 2.8 billion USD during the first six months of 2014, up by 14.5 percent compared to the same period last year.
Cambodia welcomed 2.2 million foreign visitors, a year-on-year increase of 6 percent. The construction sector attracted 1.54 billion USD during the first five months of this year, an increase of 210 percent compared to January-May 2013.
Last month, Cambodian Prime Minister Hun Sen projected economic growth would reach 7.5 percent in 2014.
VNA
