{"id":26692,"date":"2022-01-20T11:52:59","date_gmt":"2022-01-20T04:52:59","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=26692"},"modified":"2022-01-20T11:52:59","modified_gmt":"2022-01-20T04:52:59","slug":"cambodian-economy-to-grow-4-5-in-2022-and-5-5-in-2023-world-bank","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodian-economy-to-grow-4-5-in-2022-and-5-5-in-2023-world-bank\/","title":{"rendered":"Cambodian economy to grow 4.5% in 2022 and 5.5% in 2023: World Bank"},"content":{"rendered":"

New Covid variant could\u00a0<\/span>pose<\/span>\u00a0a<\/span>\u00a0risk to the ongoing recovery<\/span><\/p>\n

\"\"
Before the Covid-period, around two million jobs were generated, and these contributed to a quarter of the GDP. NathanBai\/Shutterstock<\/figcaption><\/figure>\n

In the latest data published by the World Bank on 12 January 2022, the economy of Cambodia is predicted to grow 4.5 percent this year and is expected to flourish by 5.5 percent more in the next year, reported <\/span>Khmer Times<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

However, the projected economic increase in Cambodia, along with its neighbours Thailand, Malaysia and the Philippines, which are highly dependent on tourism, won\u2019t regain its previous numbers just yet.<\/span>\u00a0<\/span><\/p>\n

The emergence of the Omicron variant can impede the ongoing recovery of tourism and its industry, just as the financial risks that come with climate-related events, vulnerability to natural disasters, and rising debt.<\/span>\u00a0<\/span><\/p>\n

The World Bank report also noted that the potential rise in infections could curb the projected economic growth. The construction and real estate services sector especially has been corrected after 2021 from four percent to over two percent after tourism and travel.<\/span>\u00a0<\/span><\/p>\n

More: Indonesia gives green light to foreigners looking to own homes or condo units<\/strong><\/a><\/p>\n

Before the Covid-period, around two million jobs were generated, and these contributed to a quarter of the GDP.<\/span>\u00a0<\/span><\/p>\n

The\u00a0<\/span>Asian Development Bank,<\/span><\/a> on the other hand,\u00a0predicted Cambodia\u2019s\u00a0economy to surge by 5.5 percent this year,\u00a0owing to\u00a0the recovery of trading partners\u00a0and their fundamental\u00a0operations that help increase demand for the local exports.<\/span>\u00a0<\/span><\/p>\n

Meanwhile,\u00a0Prime Minister Hun Sen is optimistic that the economic growth in 2022 will exceed five percent\u00a0on account of the rising export of agricultural products.<\/span>\u00a0<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email:\u00a0propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

New Covid variant could pose a risk to the ongoing recovery<\/p>\n","protected":false},"author":9,"featured_media":26693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[464,1070,129,1064],"class_list":["post-26692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economy","tag-growth","tag-philippines","tag-recovery","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nCambodian economy to grow 4.5% in 2022 and 5.5% in 2023: World Bank | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/cambodian-economy-to-grow-4-5-in-2022-and-5-5-in-2023-world-bank\/\" \/>\n<meta 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