Kingdom’s growth forecast raised to 4.8% this year

The World Bank has raised its growth forecast for Cambodia to 4.8% this year, up from its April projection of 4.5%, despite worsening global demand and rising commodity prices.

Traditional export-oriented growth drivers, especially the garment, footwear, travel goods and bicycle manufacturing industries as well as agriculture, continued to underpin Cambodia’s economic recovery, said the World Bank East Asia and Pacific Economic Update released yesterday.