COVID-19 Pandemic ‘Greatest Threat to Cambodia’s Development’: World Bank

Concerns over the spread of coronavirus have severely damaged Cambodia’s economy, with the country’s important tourism, export, and construction sectors especially hard hit, the World Bank said in a new report on Friday.

These three sectors together account for more than 70 percent of Cambodia’s economic growth and about 40 percent of its paid employment, the World Bank said in its latest economic update for the Southeast Asian nation, Cambodia in the Time of COVID-19.

“As a result, [Cambodia’s] economy is expected to register its slowest growth since 1994, contracting by between -1 percent and -2.9 percent,” the World Bank said, adding that poverty among affected households could increase between 3 to 11 percentage points higher than in the years before the virus spread.

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