AMRO raises Cambodia's GDP growth forecast to 5% from 4.9% for 2022

10 Oct '22

2 min read

Pic: Shutterstock/ hyotographics

The ASEAN+3 Macroeconomic Research Office (AMRO) has adjusted its prediction regarding Cambodia’s gross domestic product (GDP) growth rate from 4.9 per cent in its July quarterly update to 5 per cent in the October update for 2022. The organisation stated that the country’s consumer price index (CPI) will dip further from its July estimate of 6.4 per cent to 5.3 per cent in 2022.

The nation’s economic growth expectations for 2023 have been slashed from July growth calculations of 5.8 per cent to 5.4 per cent. Cambodia’s CPI for 2023 has been pegged at 3 per cent compared to the earlier estimate of 4.4 per cent, according to the ‘Quarterly Update of the ASEAN+3 Regional Economic Outlook (AREO) – October 2022’ report by AMRO.

The ASEAN+3 group includes Association of Southeast Asian Nations (ASEAN) states along with China, Japan, and South Korea.

The regional macroeconomic surveillance organisation anticipates the economy of the ASEAN region to grow by 5.3 per cent in 2022. Moreover, the ASEAN+3 region is expected to grow by 3.7 per cent in 2022, a decline from the July projection of 4.3 per cent.

ASEAN countries are estimated to face an inflation rate of 6.2 per cent in 2022, a complete percentage point higher than the earlier projection.

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