ADB revises 2020 growth forecast for Cambodia upward

The Asian Development Bank has revised its 2020 growth forecast for Cambodia upward thanks to the country’s improved agricultural performance and an increase in volume in non-garment manufacturing exports such as bicycles and electronics.

In its Asian Development Outlook (ADO) 2020 Update, the bank forecast a 4.0 percent contraction for Cambodia’s gross domestic product in 2020, compared to its June forecast of a 5.5 percent contraction.

ADB expects growth to rebound to 5.9 percent in 2021, boosted by supportive government policies, social assistance for the poor, and financing support for small and medium-sized enterprises, according to ADB Country Director for Cambodia Sunniya Durrani-Jamal.

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