World Bank lowers GDP growth forecast for Cambodia

An aerial view of central Phnom Penh showing numerous high-rise buildings. - PPP

PHNOM PENH (The Phnom Penh Post): The World Bank has revised its economic forecast for Cambodia down to 2.2 per cent this year, from a higher expectation of four per cent in April amid a rapid rise in new daily coronavirus infections and deaths, spurred by the more transmissible Delta variant.

The prediction and revision are nearly parallel to the Cambodian government’s 2021 gross domestic product (GDP) growth forecast of 2.5 per cent, which it downgraded from the 4.1 per cent announced at the beginning of the year.