Cambodia. World Bank’s 4.1 percent growth projection holds but recovery deemed vulnerable

The World Bank yesterday maintained its 4.1 percent growth projection for the Kingdom in its first economic update for Cambodia of the year.

The global financial institution, which aids development by providing loans and grants to countries, said that the Kingdom’s agriculture segment “remained resilient” while the tourism sector had been “hit hard” and the manufacturing sector “has gradually adapted to changing external conditions”.

Despite having largely escaped the health implications created by the pandemic last year, the Cambodian economy was hit hard with the World Bank (WB) reporting a contraction of 3.1 percent in 2020.

“Like many countries in the region, Cambodia has been hit hard by the global demand shock brought on by Covid-19. But the good news is that Cambodia has now vaccinated more than three million people, one of the highest rates in the region,” WB Country Manager, Iguna Dobraja, said in a statement.

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