World Bank Reports Strong Export Growth, Warns Of Potential ‘EBA’ Withdrawal

The World Bank said there could be a substantial dampening of growth because of the suspension of the ‘Everything But Arms’ trade scheme, which is essential to the export-reliant garment sector.

While the World Bank pointed to strong exports and domestic demand for keeping the economy “robust”, it warned on Wednesday that the potential suspension of the ‘EBA’ scheme and a faltering Chinese economy could affect growth prospects.

The World Bank on Wednesday released an update to the biannual “Cambodia Economic Update”, which showed that the economy grew by 7.5 percent in 2018, but could drop to 7 percent this year. The updated growth numbers are the same as the ones released in April during the launch of the economic report.

The update said there could be a substantial dampening of growth because of the suspension of the ‘Everything But Arms’ trade scheme, which is essential to the export-reliant garment sector.

In full: https://www.voacambodia.com/a/world-bank-reports-strong-export-growth-warns-of-potential-eba-withdrawal/5185964.html

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