Illustrative photo (Source: World Bank)Cambodia is projected to grow 4.5 percent this year and 5.5 percent in 2023, according to a World Bank report released on January 12.
The economies of Cambodia, Malaysia, the Philippines and Thailand, which depend on tourism, are not expected to recover to previous levels, the report said.
The appearance of the Omicron variant can disrupt tourism recovery and increase financial risks, debt, and instability related to natural disasters and climate change, it added.
The World Bank noted that the risk of a recurrence of COVID-19 infection could slow down Cambodia’s economic recovery.
Meanwhile, a report by the Asian Development Bank (ADB) said Cambodia's economy will expand around 5.5 percent in 2022 due to the recovery of its trading partners.
Cambodian Prime Minister Hun Sen also expected that the country will secure a 2022 growth of more than 5 percent due to the export of agricultural products./.