IMF: Cambodian Economic Growth Continues to Be Positive
AKP Phnom Penh, October 17, 2019 --
Cambodia's economy is projected to grow at 7 percent in 2019 - a positive trend since 2011 - while next year it will drop slightly to 6.8 percent, said the International Monetary Fund (IMF)'s World Economic Outlook.
Cambodia was classified in the list of emerging and developing Asia along with 30 others countries, including Brunei Darussalam, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Thailand and Vietnam.
According to the new forecast, this year Brunei Darussalam will achieve an economic growth of 1.8 percent, Indonesia 5 percent, Lao PDR 6.4 percent, Malaysia 4.5 percent, Myanmar 6.2 percent, the Philippines 5.7 percent, Thailand 2.9 percent, and Vietnam 6.5 percent.
In global context, IMF said the world economy is projected to grow at 3.0 percent in 2019—a significant drop from 2017–18 for emerging market and developing economies as well as advanced economies—before recovering to 3.4 percent in 2020.
A slightly higher growth rate is projected for 2021–24. This global growth pattern reflects a major downturn and projected recovery in a group of emerging market economies.
By contrast, growth is expected to moderate into 2020 and beyond for a group of systemic economies comprising the United States, euro area, China, and Japan—which together account for close to half of global GDP. The groups of emerging market economies that have driven part of the projected decline in growth in 2019 and account for the bulk of the projected recovery in 2020 include those that have either been under severe strain or have underperformed relative to past averages.
By Khan Sophirom