World Bank retains Cambodia's growth forecast at 5.5% in 2023

Phnom Penh, Oct 2 (IANS): In an updated report on Monday, the World Bank said that it maintained its economic growth forecast for Cambodia at 5.5 per cent in 2023 and raised it to 6.1 per cent in 2024.

The Southeast Asian country's growth is driven by garment export, tourism, agriculture, and construction and real estate, rpeorts Xinhua news agency.

Aaditya Mattoo, chief economist of the World Bank's East Asia and Pacific Region, said Cambodia's economic outlook remained positive, boosted mainly by the recovery of the services sector, especially tourism and improvements in agricultural production.

"In 2024, the economy is expected to improve further, growing at 6.1 percent as goods exports are projected to also improve and gradually diversify," he said during a video press conference on the launch of the East Asia and Pacific economic update report.

Mattoo said foreign direct investment (FDI) inflows will likely be boosted by the new law on investment and newly ratified free trade agreements.



Top Stories

Leave a Comment

Title: World Bank retains Cambodia's growth forecast at 5.5% in 2023

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.