(MENAFN)
A report released by the world bank on Tuesday showed that the economic expansion in Cambodia is predicted to decline to 2.5 percent in the current year 2020 over the negative effects of coronavirus.
The expansion of the economy in the country came in at 7.1 percent in the earlier year, according to the bank's East Asia and Pacific Economic Update.
The report said that "The outbreak caused sharp decelerations in most of Cambodia's main engines of growth in the first quarter of 2020, including weakened tourism and construction activity".
The report said that the decline is mostly over the outbreak of coronavirus in the country, the drop in foreign disrect investment and the losses in the construction and real estate industry.
The report said that "The tourism sector has been hit hardest by the outbreak. Similarly, the garment industry is facing a global demand shock as well as partial withdrawal of the European Union's 'Everything But Arms' (EBA) trade preferential treatment".
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