ADB retains Cambodia's growth forecast at 5.3 per cent in 2022

PHNOM PENH (Xinhua): The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 5.3 per cent in 2022, but lowered the 2023 forecast to 6.2 pe rcent from the earlier prediction of 6.5 per cent due to weaker global growth, according to its updated outlook report released on Wednesday (Sept 21).

Cambodia's garments, travel goods, and footwear outputs remained robust, registering 39.8 per cent year-on-year growth in the first half of 2022, despite the economic slowdown in the United States and Europe, the report said.