World Bank Projects Negative Growth in Cambodia, a First Since 1994

Cambodia could see negative growth this year — for the first time since 1994 — due to the pandemic-spurred economic crisis, the World Bank projected on Friday, estimating even more severe hits to the nation’s key industries than it did two months ago.

“The global epidemiological and economic crisis unleashed by COVID-19 poses the greatest threat to Cambodia’s development in its 30 years of modern history,” the World Bank said in its latest economic update report for Cambodia.

“While real GDP growth was strong at 7.1 percent in 2019, it is projected to register a negative growth rate, ranging between -1.0 and -2.9 percent in 2020,” the report said.

In full: https://vodenglish.news/world-bank-projects-negative-growth-in-cambodia-a-first-since-1994/

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