Economy resilient to global headwinds: World Bank
Despite global uncertainty related to political shifts in the West and a continued Chinese economic slowdown, Cambodia showed strong growth prospects for the next several years, according to the World Bank’s latest report. The latest Global Economic Prospects report from the World Bank, titled “Weak Investment in Uncertain Times,” looked back on the previous year with a generally negative outlook, impacted by the unexpected election of Donald Trump in the US and the sudden Brexit vote in the United Kingdom to leave the European Union. In Asia, slower Chinese economic expansion continued to pose a risk to growth, but had not affected Cambodia as much as previously expected, with both China and Japan maintaining strong levels of foreign direct investment in the region, the report said. The World Bank estimated GDP growth in the Kingdom stood at 7 percent for 2016 and forecasted growth between 6.9 and 6.8 percent for the next three years.
