Moody’s sees ‘solid growth prospects’ for Cambodia

[geovalin]

Moody’s Investors Service says Cambodia has strong fiscal buffers to counter disruptions to trade and growth arising from the COVID-19 pandemic. In a statement released in Singapore Friday, the US credit rating agency said slowdowns in China, the EU and the US would deter Cambodia’s growth prospects this year, with GDP forecast to contract 0.3 percent.

 

But GDP is projected to rebound by almost 6.0 percent next year, it said. Moody’s said Cambodia’s latest credit profile reflected the country’s “solid growth prospects” as well as its “moderate and highly affordable debt burden.”

 

Despite limited infections, the rating agency said the virus outbreak would affect investment and tourism in Cambodia, especially given its close links with China. “Cambodia is particularly exposed to a slowdown in China given their extensive economic linkages,” said Moody’s Vice-President and Senior Analyst Anushka Shah.

 

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