Vaccines, FTAs help boost Cambodia's economic recovery: World Bank

Cambodia's total exports were worth US$9.41 billion during the January-May period in 2022 up 34.5 per cent year-on-year, as traditional growth drivers, especially garments, travel goods and footwear products, continued to expand. - PPP

PHNOM PENH (Xinhua): High Covid-19 vaccination rates and free trade agreements (FTAs), namely the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China FTA (CCFTA), have been helping boost Cambodia's economic recovery, said a World Bank economic update report released on Thursday (June 30).

Cambodia's economy will grow by 4.5 per cent in 2022 and around 6 per cent annually for the medium term, the report said. However, rising global energy and food prices are expected to fuel the country's inflation to 7.2 percent this year, up from 3.5 percent last year.