World Bank raises Cambodia's GDP growth forecast to 4.8%

The World Bank has pegged Cambodia’s real gross domestic product (GDP) growth at 4.8 per cent for 2022 and 5.2 per cent for 2023. - PPP

PHNOM PENH (The Phnom Penh Post/Asia News Network): The World Bank (WB) has raised its 2022 growth forecast for Cambodia’s real gross domestic product (GDP) to 4.8 per cent, from 4.5 per cent in April, as a rise in the export of garment, footwear and travel goods (GTF), bicycle and agricultural items continue to underpin post-Covid-19 economic recovery.

In its latest Macro Poverty Outlook (MPO) published on Sept 26, the Washington-based multilateral lender noted that although Covid-19 infections have resurged in the Kingdom, chiefly due to the Omicron variant, no deaths linked to the disease have been officially recorded since April 19, underscoring the success of the vaccine roll-out.