World Bank outlines two scenarios for Cambodian economy

[geovalin]

The World Bank expects the Cambodian economic activity to shrink 1 percent this year before rebounding to 6 percent next year under its baseline scenario for the country. Under this scenario, contained in the bank’s biannual update for Cambodia released Friday, agriculture would have the only positive contribution to GDP in 2020.

 

Agricultural activities are seen expanding 0.3 percent this year, offset by contractions of 1.7 percent in services and 1.0 percent in industry. A strong rebound in 2021 would be largely driven by industry, which is forecast to surge by 9.2 percent. Services are seen expanding by 5.8 percent and agriculture by 0.4 percent.

 

Projections for 2022 shows an overall growth of 6.3 percent with stronger contributions from agriculture and industry. The World Bank said the baseline scenario for Cambodia assumed a rebound in global demand.

 

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