"Thai Deputy Defense Minister Condemns Cambodia Over Landmine Incident Injuring Thai Soldiers; Keo Remy, however, warned, 'Please do not walk like a crab.'" | BREAKING: Tensions Escalate: Thai Troops Prepare to Launch Unauthorized Attack on Cambodian Territory Amid Internal Political Strife | Cambodia Rebuts Thailand’s Baseless Landmine Allegations and Urges Diplomacy to Maintain Regional Peace | Cambodia Accuses Thailand of Using Landmine Incidents as a Political Tool and Violating Ceasefire Agreements | Breaking: Kandal Provincial Police Arrest Notorious Lotion Manufacturer Love Riya | Cambodia Clarifies Misleading Claims About Ottawa Convention Meeting in Bangkok | Cambodia, China, and Thailand Discuss Regional Cooperation and Border Disputes at Mekong-Lancang Meeting | Smile Asia Philanthropic Visionary Award” Presented to Dr. Pich Chanmony Hun Manet | Cambodia & Thailand Call for Restraint and Adherence to International Agreements | International Observer Team Conducts Monitoring Visit Following Cambodia–Thailand Ceasefire Agreement | Cambodia, Vietnam Strengthen Ties in High‑Level Video Conference; Aim for $20B Trade |
"Thai Deputy Defense Minister Condemns Cambodia Over Landmine Incident Injuring Thai Soldiers; Keo Remy, however, warned, 'Please do not walk like a crab.'" | BREAKING: Tensions Escalate: Thai Troops Prepare to Launch Unauthorized Attack on Cambodian Territory Amid Internal Political Strife | Cambodia Rebuts Thailand’s Baseless Landmine Allegations and Urges Diplomacy to Maintain Regional Peace | Cambodia Accuses Thailand of Using Landmine Incidents as a Political Tool and Violating Ceasefire Agreements | Breaking: Kandal Provincial Police Arrest Notorious Lotion Manufacturer Love Riya | Cambodia Clarifies Misleading Claims About Ottawa Convention Meeting in Bangkok | Cambodia, China, and Thailand Discuss Regional Cooperation and Border Disputes at Mekong-Lancang Meeting | Smile Asia Philanthropic Visionary Award” Presented to Dr. Pich Chanmony Hun Manet | Cambodia & Thailand Call for Restraint and Adherence to International Agreements | International Observer Team Conducts Monitoring Visit Following Cambodia–Thailand Ceasefire Agreement | Cambodia, Vietnam Strengthen Ties in High‑Level Video Conference; Aim for $20B Trade |

World Bank Predicts Slow Rebound for Cambodian Economy

Phnom Penh: A new forecast by the World Bank shows that Cambodia's economic growth will experience a slow rebound, given the ongoing community outbreak. It says growth will hit just 2.2% this year, but will recover to 4.5% next year and 5.5% in 2023. Before the pandemic hit, the kingdom’s economic growth had averaged at around 7% for more than a decade.

The World Bank says 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%, despite strong export performance supported by improved external demand conditions”.

The bank says "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 says the protracted outbreak is being caused by the more transmissible Delta variant, pointing out that infections and deaths have risen quickly. The outbreak has lingered since the second quarter of 2021 and has slowed the economic recovery. It says the “important travel and tourism sector, which was estimated to have provided about 2 million jobs and contributed a quarter of the kingdom’s GDP during the pre-pandemic period has virtually collapsed”.

While the bank says risks are tilted to the downside, there is cause for optimism. Schools have reopened and plans to restart international tourism are being developed. The kingdom’s high vaccination rate also means the Cambodian economy will start to rebound before many of its neighbours.

Thanks to improved external demand conditions, the World Bank says merchandise exports have also strengthened, expanding at 17% year-on-year during the first seven months of 2021, driven partly by a recovery of exports of garment, footwear, and travel goods, particularly to the United States.


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