Think tank says better-than-expected global recovery will lessen effects of economic crisis on the Kingdom, slashes projected GDP contraction by half
THE Economist Intelligence Unit (EIU) has revised its 2009 growth forecast for Cambodia upwards from a 3 percent contraction to a smaller 1.5 percent decline, citing changes to its global forecast.
"The main reason we have revised up our Cambodia GDP forecast is that the global recession is likely to be less severe than we had previously expected, mainly owing to the impact of fiscal stimulus in the world's leading economies," EIU economist Nick Owen said by email from London on Thursday. Click to read more...
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