In its latest Asian Development Bank (ADB) report has maintained its April projection for Cambodia's economic growth at 7.1 per cent in 2017 and 2018. 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.
According to the lender's updated report, merchandise exports as indicated by customs data rose by 7.7 per cent and imports by 8.1 per cent in the first half of 2017. The report also stated that inflation averaged 3.3 per cent in the first seven months of 2017. Adding that per month, inflation was highest at 4.2 per cent in March and lowest at 2.3 per cent by July due to softer fuel and food prices.
The average inflation is forecast to come in at 3 per cent in 2017, and edge up marginally to 3.2 per cent in 2018.