The World Bank forecast Monday that GDP in Cambodia and the Philippines would expand by 5.8 percent this year, making the two countries the fastest-growing developing economies in Southeast Asia.
In its latest economic update for East Asia and the Pacific, the bank revised upwards its October growth forecasts of 5.5 percent for Cambodia and 5.6 percent for the Philippines.
It also upgraded its forecast for Vietnam from 4.7 percent to 5.5 percent, making it the third-fastest growing economy among ASEAN’s eight developing members.
But the bank revised downwards its forecasts for China from 5.1 percent to 4.5 percent, and Indonesia from 5.0 percent to 4.9 percent.
Among other developing ASEAN economies, forecasts were upgraded from 3.9 percent to 4.3 percent for Malaysia and from 3.7 percent to 4.0 percent for Laos. But forecasts were cut from 3.4 percent to 2.8 percent for Thailand and from 3.0 percent to 1.3 percent for Myanmar.
Source Khmer Times
