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The International Monetary Fund (IMF) has projected that Cambodia will be the third-fastest growing economy in ASEAN next year and fastest growing economy in the region by 2025.
It had recently released World Economic Outlook; Cambodia’s economy forecast to shrink at 2.8 percent this year, much higher than 1.5 percent contraction forecast for Indonesia.
Amid the COVID-19 pandemic, deeper contractions of 8.3 percent forecast for the Philippines, 7.1 percent for Thailand and 6.0 percent for both Malaysia and Singapore.
Meanwhile, Myanmar forecast to be the fastest-growing ASEAN economy this year with GDP expanding by 2.0 percent, followed by Vietnam with growth of 1.6 percent.
The IMF’s mid-term projections for 2025 show Cambodia outpacing its peers with growth forecast at 6.9 percent, making the country the region’s fastest growing economy.
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