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HomeEconomyKey commodity shortages to hit Cambodia’s economic recovery: WB

Key commodity shortages to hit Cambodia’s economic recovery: WB

Cambodia’s economic recovery could be hit by shortages in essential commodities and raw materials that could disrupt production, according to the Global Economic Prospects released by World Bank (WB) on Tuesday.

Cambodia is among East Asia and the Pacific region’s commodity-importing countries with high dependence on food and fuel imports, the report stated, adding that the economy would likely face the risk of high debt, rising interest rates and weak economic recoveries.

The impact is likely to be concentrated on countries with large external financing needs, which include Cambodia, Fiji, Malaysia, Mongolia and Timor-Leste, according to the report.

A prolonged war in Ukraine and intensifying geographical uncertainty could also further reduce global confidence and lead to a sharper-than-projected slowdown in the region’s exports due to weak global demand, further increase in shipping costs and distorted trade flows, report added.

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