WB: Cambodia’s economic pillars unstable due to COVID-19

The World Bank (WB) warned on April 14 that the slow growth of Cambodia’s construction and real-estate sector, considered one of the country’s economic pillars, could negatively affect the country’s overall growth.

Along with other factors such as the COVID-19 pandemic and a sharp decrease in the number of tourist arrivals, a decline in the property sector’s growth amid difficulties in the financial market and an increasing dependence on China’s investment in the construction and real-estate sector have contributed to slowing down Cambodia’s economic growth.

The WB recommended Cambodia to carry out micro-economic measures carefully, such as restricting construction loans and investment in real estate, and tightening lending interest rates and values of loans, except for those who buy houses for the first time.

In full: https://en.vietnamplus.vn/wb-cambodias-economic-pillars-unstable-due-to-covid19/171752.vnp

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