World Bank says economy to grow 4.5% next year but risks remain

Cambodia’s economic growth will accelerate from a forecast of 2.2 percent this year to 4.5 percent in 2022, according to the World Bank. However, it warned that renewed virus outbreaks could put the recovery at risk. In its latest Economic Update for Cambodia the World Bank noted that manufacturing and agricultural exports have been improving but the trade deficit has widened due to rising imports, especially of gold.

The bank said tourism, construction and real estate will be slow to recover even after the government scrapped the 14-day quarantine for foreigners at the end of last month. 

It said tourists will be slow to return and construction and real estate will suffer from oversupply due to a building boom that was not met with matching demand due to the reduced spending power of locals and entry restrictions on potential foreign buyers.

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