Economic Impact of COVID-19 on Cambodia and its Policy Response

ambarish — Thu, 04 Jun 2020 18:10:57 +0000

Cambodia’s economy is expected to be adversely affected by COVID-19 pandemic in 2020. The real gross domestic product (GDP) of Cambodia is expected to shrink, unemployment level to increase and current account balance to show negative growth due to global economic slowdown caused by COVID-19 this year. Rising unemployment will be driven by global economic slowdown which has impacted the garment and footwear sector which is employs large population in Cambodia. As of 04^th June 2020, Cambodia had 125 confirmed COVID-19 cases out of which 123 people have recovered from the disease while none have lost their lives.

In this blog post we will be focusing on economic impact of COVID-19 pandemic on Cambodia. We will also be taking a look at the fiscal and monetary related policy measures taken by Cambodia government under following sections –

Impact of COVID-19 on Cambodia Economy in 2020
Coronavirus (COVID-19) Containment Measures of Cambodia
Coronavirus (COVID-19) Related Fiscal Policy Measures by Cambodia
Coronavirus (COVID-19) Related Monetary Policy Measures by Cambodia

We have covered various macroeconomic factors and PESTLE (political, economic, social, technological, legal, and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and risk analysis for Cambodia in separate 91��Ƭ�� reports.

1. Impact of COVID-19 on Cambodia Economy in 2020

Cambodia’s real gross domestic product (GDP) was KHR 56606.878 billion in 2019 and due to COVID-19 outbreak it is estimated to shrink by 1.587% to be around KHR 55708.526 billion in 2020.

Cambodia’s unemployment rate was 0.677% of total labor force in 2019. Unemployment rate is however expected to increase with more than 200,000 workers facing unemployment because of the global economic slowdown due to the COVID-19...

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