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 surveys of households validated the adverse impact...

Full description

Bibliographic Details
Corporate Author: World Bank Group
Format: eBook
Language:English
Published: Washington, D.C The World Bank 2020
Series:Economic Updates and Modeling
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
LEADER 02086nmm a2200205 u 4500
001 EB002188991
003 EBX01000000000000001326476
005 00000000000000.0
007 cr|||||||||||||||||||||
008 231211 ||| eng
245 0 0 |a Cambodia Economic Update, November 2020  |h Elektronische Ressource  |b Restrained Recovery 
260 |a Washington, D.C  |b The World Bank  |c 2020 
710 2 |a World Bank Group 
041 0 7 |a eng  |2 ISO 639-2 
989 |b WOBA  |a World Bank E-Library Archive 
490 0 |a Economic Updates and Modeling 
028 5 0 |a 10.1596/34932 
856 4 0 |u http://elibrary.worldbank.org/doi/book/10.1596/34932  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a 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