World Bank forecasts Cambodia’s economic growth down to 2.2 Percent

World Bank’s new forecast analysis show that Cambodia’s economic growth this year will go down to 2.2 percent, but will recover to 4.5 percent next year, and 5.5 percent in 2023. Cambodia is experiencing a resurgence of COVID-19 cases which has slowed the recovery, especially of the service, construction, and real estate sectors.

The growth projection for 2021 is now revised down to 2.2 percent, despite strong export performance supported by improved external demand conditions. “Cambodia’s outlook remains highly uncertain and risks are tilted to the downside. Despite accelerated vaccination progress, risks of a protracted outbreak and further disruption remain high, given continued high numbers of infections and deaths,” it underlined.

World Bank said Cambodia is experiencing a resurgence of COVID-19 cases, caused by the more transmissible Delta variant. Infections and deaths have risen quickly. The outbreak which has lingered since the second quarter of 2021 has slowed the recovery, especially of the service, construction, and real estate sectors.

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