World Bank: Cambodia’s Economy to Grow by 2.2% in 2021 and 4.5% in 2022

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Phnom Penh – The World Bank forecasted that Cambodia’s economy is expected to grow by 2.2 percent in 2021, and 4.5 percent in 2022, according to the latest report seen by Cambodia Muslim Media Center on Tuesday.

“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, the report added.

In March 2021, the World Bank forecasted that Cambodia’s economy is expected to grow by 4 percent in 2021, and 5.2 percent in 2022 and 2023.