World Bank: Expanding Trade and Investment Crucial for Cambodia’s COVID-19 Recovery

The World Bank’s predictions for the Cambodian economy are in line with government expectations; a -2 percent contraction in 2020, but with a strong performance in 2021.

The World Bank on Sept. 28 released a new report claiming that Cambodia needs to focus on expanding trade and investment, as well as job creation, if it is to recover economically from the COVID-19 pandemic.

The 52-page report, entitled “From Containment to Recovery: World Bank October 2020 Economic Update for East Asia and the Pacific” was released on Sept. 28 and forecast negative growth of -2 percent for Cambodia’s economy this year.

While this may be the sharpest economic contraction in recent history for Cambodia, the World Bank paints a much less gloomy picture than the Asian Development Bank (ADB) did last week, where they predicted a -5.5 percent decline for the economy—a stark contrast to the government’s own predictions of -1.9 percent shrinkage for 2020.

In full: https://cambodianess.com/article/world-bank-expanding-trade-and-investment-crucial-for-cambodias-covid-19-recovery

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