Cambodia Economic Update, November 2020 : Restrained Recovery
The Coronavirus disease (COVID-19) pandemic has abruptly interrupted Cambodia’s celebrated growth story. The pandemic has effectively stalled the construction and real estate boom that relied heavily on foreign investment. High-frequency phone surv...
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| Language: | English |
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World Bank, Phnom Penh
2020
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| Online Access: | http://documents.worldbank.org/curated/en/986491608013945613/Cambodia-Economic-Update-Restrained-Recovery-Special-Focus-Adapting-to-COVID-19-in-an-Uncertain-World http://hdl.handle.net/10986/34932 |
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okr-10986-349322021-04-23T14:02:12Z Cambodia Economic Update, November 2020 : Restrained Recovery World Bank ECONOMIC GROWTH MANUFACTURING EXPORTS RICE POVERTY MONETARY POLICY FISCAL TRENDS PUBLIC DEBT ECONOMIC OUTLOOK CORONAVIRUS COVID-19 PANDEMIC IMPACT FIRM PERFORMANCE SMALL AND MEDIUM SIZE ENTERPRISE SME FINANCE ACCESS TO FINANCE BUSINESS ENVIRONMENT The Coronavirus disease (COVID-19) pandemic has abruptly interrupted Cambodia’s celebrated growth story. The pandemic has effectively stalled the construction and real estate boom that relied heavily on foreign investment. High-frequency phone surveys of households validated the adverse impact of the pandemic on employment. As the global economic crisis caused by COVID-19 continues, the economy in 2020 is projected to contract by 2.0 percent, the sharpest decline in Cambodia’s recent history. The most important policy goal must be to urgently regain jobs lost or suspended due to the pandemic. In this regard, full attention must be paid to boost investment in labor-intensive sectors to generate jobs. Looking ahead, it is essential to facilitate an expansion of domestic and foreign investment arising largely from recent bilateral and regional free trade agreements. It is imperative to continue to closely monitor vulnerabilities arising from a prolonged construction and property boom and the increase of credit provided to the construction and real estate sector. It is critically important to develop a COVID-19 vaccine distribution infrastructure, while identifying potential COVID-19 vaccine availability and affordability. Cooperation has been sought with regional countries developing COVID-19 vaccines such as China to ensure Cambodia has access to the COVID-19 vaccine when it is available. 2020-12-16T21:46:16Z 2020-12-16T21:46:16Z 2020-11 Report http://documents.worldbank.org/curated/en/986491608013945613/Cambodia-Economic-Update-Restrained-Recovery-Special-Focus-Adapting-to-COVID-19-in-an-Uncertain-World http://hdl.handle.net/10986/34932 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Phnom Penh Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Cambodia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH MANUFACTURING EXPORTS RICE POVERTY MONETARY POLICY FISCAL TRENDS PUBLIC DEBT ECONOMIC OUTLOOK CORONAVIRUS COVID-19 PANDEMIC IMPACT FIRM PERFORMANCE SMALL AND MEDIUM SIZE ENTERPRISE SME FINANCE ACCESS TO FINANCE BUSINESS ENVIRONMENT |
| spellingShingle |
ECONOMIC GROWTH MANUFACTURING EXPORTS RICE POVERTY MONETARY POLICY FISCAL TRENDS PUBLIC DEBT ECONOMIC OUTLOOK CORONAVIRUS COVID-19 PANDEMIC IMPACT FIRM PERFORMANCE SMALL AND MEDIUM SIZE ENTERPRISE SME FINANCE ACCESS TO FINANCE BUSINESS ENVIRONMENT World Bank Cambodia Economic Update, November 2020 : Restrained Recovery |
| geographic_facet |
East Asia and Pacific Cambodia |
| description |
The Coronavirus disease (COVID-19)
pandemic has abruptly interrupted Cambodia’s celebrated
growth story. The pandemic has effectively stalled the
construction and real estate boom that relied heavily on
foreign investment. High-frequency phone surveys of
households validated the adverse impact of the pandemic on
employment. As the global economic crisis caused by COVID-19
continues, the economy in 2020 is projected to contract by
2.0 percent, the sharpest decline in Cambodia’s recent
history. The most important policy goal must be to urgently
regain jobs lost or suspended due to the pandemic. In this
regard, full attention must be paid to boost investment in
labor-intensive sectors to generate jobs. Looking ahead, it
is essential to facilitate an expansion of domestic and
foreign investment arising largely from recent bilateral and
regional free trade agreements. It is imperative to continue
to closely monitor vulnerabilities arising from a prolonged
construction and property boom and the increase of credit
provided to the construction and real estate sector. It is
critically important to develop a COVID-19 vaccine
distribution infrastructure, while identifying potential
COVID-19 vaccine availability and affordability. Cooperation
has been sought with regional countries developing COVID-19
vaccines such as China to ensure Cambodia has access to the
COVID-19 vaccine when it is available. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Cambodia Economic Update, November 2020 : Restrained Recovery |
| title_short |
Cambodia Economic Update, November 2020 : Restrained Recovery |
| title_full |
Cambodia Economic Update, November 2020 : Restrained Recovery |
| title_fullStr |
Cambodia Economic Update, November 2020 : Restrained Recovery |
| title_full_unstemmed |
Cambodia Economic Update, November 2020 : Restrained Recovery |
| title_sort |
cambodia economic update, november 2020 : restrained recovery |
| publisher |
World Bank, Phnom Penh |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/986491608013945613/Cambodia-Economic-Update-Restrained-Recovery-Special-Focus-Adapting-to-COVID-19-in-an-Uncertain-World http://hdl.handle.net/10986/34932 |
| _version_ |
1764481960574451712 |