DPA
Phnom Penh - The World Bank predicted Wednesday that Cambodia's economy would rebound this year, following a "serious setback" in 2009 in which it shrank 2 per cent as a result of the global economic crisis.
In its half-yearly East Asia & Pacific Economic Update report, which covers its outlook for the region, the World Bank predicted Cambodia's economy would grow 4.4 per cent in 2010.
The report blamed last year's contraction on a sharp drop in garment exports, whose volumes declined 16 per cent, lower tourism receipts, and a slump in foreign direct investment (FDI), which was down 35 per cent to 515 million dollars.
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