The Cambodian economy will grow by 6.9% this year, according to projections from the National Bank of Cambodia (NBC), spurred by the robust performance of the tourism, construction and garment sectors. The figure features in a recent report by the NBC titled Macroeconomic Prospects and Financial Sector in 2017 and Outlook for 2018, according to the Khmer Times.Other international bodies have issued similar forecasts, with the World Bank also placing Cambodia’s growth in 2018 at 6.9%, the International Monetary Fund (IMF) projecting 6.8% and the Asian Development Bank saying it will be 7.1%.“Strong regional growth will support investment, exports and tourism,” the report reads.“Garment exports, meanwhile, will be supported by access to preferential treatment from the European Union and the US, as well as an increase in exports to Japan and Canada, which will help us reduce our reliance on just a few markets.“The country has also been diversifying its … [Read more...] about Cambodia economy to grow at 6.9% this year: Central bank
Economy
Brexit could wipe £54 billion and 500,000 jobs from the UK economy by 2030, Sadiq Khan’s impact papers warn
An impact assessment commissioned by Mayor of London Sadiq Khan warned the UK economy could lose £54 billion by 2030. Khan commissioned the research after Brexit secretary David Davis said the government had failed to analyse the potential impact of Brexit on specific sectors. The research also suggests 500,000 jobs could be lost under a “hard Brexit” scenario, with 87,000 at risk in London. LONDON – Brexit could cost the economy £54 billion and 500,000 jobs by 2030 depending on the deal the UK strikes with the EU, according to a set of impact assessments commissioned by Mayor of London Sadiq Khan. Khan commissioned a series of impact papers to determine the potential impact of different Brexit scenarios on key sectors of the UK economy after Brexit secretary David Davis said the government had not done so. The scenarios examined include leaving the EU single market, leaving the customs … [Read more...] about Brexit could wipe £54 billion and 500,000 jobs from the UK economy by 2030, Sadiq Khan’s impact papers warn
OBAMA TREASURY SECRETARY: Trump has gotten ‘a lot of luck’ when it comes to the economy — but that could end soon
Former Treasury Secretary Jack Lew spoke to Politico’s Money podcast about President Donald Trump, the economy, and the 2016 election. Lew said Trump has been “lucky so far” that no external shock has derailed the economy. The Obama appointee also said there were a slew of geopolitical and economic issues that could cause a crisis for Trump in the coming year. Former Treasury Secretary Jack Lew said he that President Donald Trump has been the beneficiary of luck so far with the economy – and he warned that sometimes, luck runs out. In an interview with Politico’s Ben White for the Politico Money podcast, Lew said the global economy had been incredibly resilient during the first year of Trump’s presidency compared to many years under President Barack Obama, who appointed him to his former post. “They’ve had a lot of luck so far,” Lew said. “We, in our first few … [Read more...] about OBAMA TREASURY SECRETARY: Trump has gotten ‘a lot of luck’ when it comes to the economy — but that could end soon
‘The engine of the economy roared back to life’: US small business confidence hit a record-high in 2017
The Small Business Optimism Index from the National Federation of Independent Businesses came in at 104.9 in December. The average monthly reading for the index in 2017 was 104.8, the highest for any year in its history. Both the NFIB’s CEO and chief economist attributed the boost in confidence to policy changes under the Trump administration. Small-business confidence hit a record high in 2017, according to the National Federation of Independent Businesses. The National Federation of Independent Businesses on Tuesday released its Small Business Optimism Index for, capping “an all-time record setter” of a year in 2017, according to the right-leaning lobbying group.The optimism index came in at 104.9 in December. According to the NFIB, the index’s average monthly level was 104.8 in 2017, the highest in the history of the the survey. Juanita Duggan, the president and CEO of the NFIB, pinned the … [Read more...] about ‘The engine of the economy roared back to life’: US small business confidence hit a record-high in 2017
India’s economy faces ominous 2018
You'd think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi's decision just over a year ago to withdraw 86% of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declining, as they had for several quarters; indeed, for the last month that data is available, they rose 30%. The Purchasing Managers' Index expanded the fastest it has in five years. At least one international ratings agency has upgraded India's credit rating. Most importantly, growth sped up last quarter for the first time since early 2016. There's every reason to think it'll bounce back towards the 7-7.5% range shortly.Nothing is ever straightforward in India, however. Just as growth appears to be no longer a pressing problem, another familiar threat has reappeared: India's macroeconomic numbers don't look so stable.The last few years have been … [Read more...] about India’s economy faces ominous 2018