Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs
Cambodia is now weathering an oil price shock, just as the economy had started to recover amid a rollback of Coronavirus (COVID-19)-related restrictions. Negative impacts of the oil price shock are amplified by Cambodia’s already large external imb...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC : World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099315006282226217/P1773400c74b8e06308c8a00ff3a41dd50c http://hdl.handle.net/10986/37680 |
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okr-10986-376802022-07-12T05:10:53Z Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs World Bank COVID-19 EXPORT RICE PRODUCTION TOURISM OIL PRICE CREDIT GROWTH CASH TRANSFERS PUBLIC DEBT GLOBAL SUPPLY CHAIN Cambodia is now weathering an oil price shock, just as the economy had started to recover amid a rollback of Coronavirus (COVID-19)-related restrictions. Negative impacts of the oil price shock are amplified by Cambodia’s already large external imbalances. Rising food and energy prices have eroded household purchasing power. International oil price increases are passing directly through to domestic prices. Higher commodity prices triggered by the war in Ukraine are expected to lead to sizable fiscal impacts. Meanwhile, the “living with COVID-19” strategy has enabled a reopening of the economy since late last year. The economic recovery remains uneven. Traditional growth drivers, especially the garment, travel goods, and footwear manufacturing industries, continue to expand. Rising inflationary pressures are posing serious policy challenges for the Cambodian authorities. To this end, it is crucial for the central bank to continue to be committed to maintaining exchange rate stability. For the government, it is important to avoid creating excess aggregate demand, which might trigger undue domestic inflationary pressures on top of the imported inflation. The prospect of a protracted period of high inflation and a sharp increase in global interest rates has significant implications for Cambodia, whose economy is highly dollarized. 2022-07-11T19:37:28Z 2022-07-11T19:37:28Z 2022-06 Report http://documents.worldbank.org/curated/en/099315006282226217/P1773400c74b8e06308c8a00ff3a41dd50c http://hdl.handle.net/10986/37680 English en_US Cambodia Economic Update; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank 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 en_US |
| topic |
COVID-19 EXPORT RICE PRODUCTION TOURISM OIL PRICE CREDIT GROWTH CASH TRANSFERS PUBLIC DEBT GLOBAL SUPPLY CHAIN |
| spellingShingle |
COVID-19 EXPORT RICE PRODUCTION TOURISM OIL PRICE CREDIT GROWTH CASH TRANSFERS PUBLIC DEBT GLOBAL SUPPLY CHAIN World Bank Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| geographic_facet |
East Asia and Pacific Cambodia |
| relation |
Cambodia Economic Update; |
| description |
Cambodia is now weathering an oil
price shock, just as the economy had started to recover amid
a rollback of Coronavirus (COVID-19)-related restrictions.
Negative impacts of the oil price shock are amplified by
Cambodia’s already large external imbalances. Rising food
and energy prices have eroded household purchasing power.
International oil price increases are passing directly
through to domestic prices. Higher commodity prices
triggered by the war in Ukraine are expected to lead to
sizable fiscal impacts. Meanwhile, the “living with
COVID-19” strategy has enabled a reopening of the economy
since late last year. The economic recovery remains uneven.
Traditional growth drivers, especially the garment, travel
goods, and footwear manufacturing industries, continue to
expand. Rising inflationary pressures are posing serious
policy challenges for the Cambodian authorities. To this
end, it is crucial for the central bank to continue to be
committed to maintaining exchange rate stability. For the
government, it is important to avoid creating excess
aggregate demand, which might trigger undue domestic
inflationary pressures on top of the imported inflation. The
prospect of a protracted period of high inflation and a
sharp increase in global interest rates has significant
implications for Cambodia, whose economy is highly dollarized. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| title_short |
Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| title_full |
Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| title_fullStr |
Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| title_full_unstemmed |
Cambodia Economic Update - Weathering the Oil Price Shock : Special Focus - Post-Pandemic Supply Chain Disruptions : Strategies to Reduce Logistics Costs |
| title_sort |
cambodia economic update - weathering the oil price shock : special focus - post-pandemic supply chain disruptions : strategies to reduce logistics costs |
| publisher |
Washington, DC : World Bank |
| publishDate |
2022 |
| url |
http://documents.worldbank.org/curated/en/099315006282226217/P1773400c74b8e06308c8a00ff3a41dd50c http://hdl.handle.net/10986/37680 |
| _version_ |
1764487654354714624 |