World Bank pegs Cambodia's economic growth at 5.5%

High-rise buildings in Phnom Penh. - PPP

PHNOM PENH (The Phnom Penh Post/Asia News Network): The World Bank has upheld its economic growth forecast for Cambodia this year at 5.5 per cent, supported by the resurgence of the services sector, particularly tourism, following the post-pandemic recovery.

This projection is in contrast with the Asian Development Bank (ADB), which revised its growth forecast downward from 5.5 to 5.3 per cent on September 20, citing slower industrial growth in the first half of the year. However, the ADB report retained the country’s 2024 growth outlook at 6.0 per cent.