Cambodia’s economy to grow 4.5 percent this year, 5.5 percent in 2023: World Bank

The World Bank says Cambodia’s economy will grow at more than twice the pace this year than its estimate of 2.2 percent growth in 2021. It says gross domestic product (GDP) will accelerate to 4.5 percent this year and reach 5.5 percent in 2023.

That would still be lower than pre-Covid levels. Cambodia’s economy expanded 7.1 percent in 2019, but then contracted by 3.1 percent the following year as the pandemic forced border closures and cut international trade and tourism.

The World Bank estimate for this year is less optimistic than the Cambodian government’s forecast. Prime Minister Hun Sen said 2022 GDP will rise by more than 5 percent helped by growing demand for agricultural exports.

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