The World Bank (WB) has maintained its economic projection for Cambodia at 5.2 per cent in 2023, crediting China’s economic reopening, but noted that regional economies could be hurt by “slowing global growth, elevated commodity prices, and tightening financial conditions in response to persistent inflation”.
“Growth in developing East Asia and the Pacific [EAP] is forecast to accelerate to 5.1 per cent in 2023 from 3.5 per cent in 2022, as China’s reopening helps the economy rebound to a 5.1 per cent pace from three per cent last year,” the multilateral lender said in a March 30 statement.
The Washington-based institution defines the developing EAP region as the 10-nation ASEAN’s eight largest countries – Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand and Vietnam – along with China, Mongolia, Papua New Guinea, Timor-Leste, and the Pacific island…
