Xinhua news agency quoted seven news English news | Xinhua news agency quoted seven news, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Phnom Penh, May 18 The World Bank on Thursday raised its growth forecast for Cambodia to 5.5 per cent in 2023, up from its earlier projection of 5.2 per cent."Driven by pent-up consumer demand and the return of foreign tourists, the overall contribution of the services sector to economic growth is returning to the 2019 levels," Maryam Salim, World Bank country manager for Cambodia, said during the launch of the May 2023 Cambodia Economic Update."Meanwhile, the agriculture sector is benefitting from improved access to regional markets, thanks to newly ratified bilateral and regional free trade agreements," she added.World Bank senior country economist Ly Sodeth said Cambodia's economic recovery strengthened despite weakening global demand, reports Xinhua news agency."Initially led by export-oriented manufacturing, growth drivers have evolved to the services and the agriculture sectors," he said at the event.He said the kingdom's inflation had returned to the pre-Covid levels, at 2.2 per cent in February this year as food and oil prices moderated.Meanwhile, Sodeth said interest rate increases in the US have pushed up domestic interest rates, curtailing the kingdom's credit growth.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Xinhua News Agency Quoted Seven NewsFOLLOW

Xinhua news agency quoted seven news, Latest News

Accra, May 21 The Ghanaian government has said that the country decided to further lift Covid-19 restrictions amid ... ...

Tehran, May 20 Iran's Foreign Minister Hossein Amir-Abdollahian has urged Taliban to allow the visit of Iranian technical ... ...

Jakarta, May 20 A search operation for 11 Indonesian sailors, who went missing after their ship caught fire ... ...

Ulan Bator, May 19 Strong winds, and heavy dust and snow storms are sweeping large parts of Mongolia, ... ...

Mexico City, May 19 The Bank of Mexico has decided to keep the key interest rate unchanged at ... ...

Washington, May 19 An earthquake measuring 7.7 on the Richter scale jolted southeast of the Loyalty Islands on ... ...

Beirut, May 19 Lebanese Central Bank Governor Riad Salameh, who faces domestic and international corruption probes, said that ... ...

Phnom Penh, May 18 The World Bank on Thursday raised its growth forecast for Cambodia to 5.5 per ... ...