The global epidemiological and economic crisis unleashed by COVID-19 (Coronavirus) poses the greatest threat to Cambodia’s development in its 30 years of modern history. The three most affected sectors - tourism, manufacturing exports, and construction - contributed more than 70 percent of growth and 39.4 percent of total paid employment in 2019. Therefore, in the current year, Cambodia’s economy is likely to register its slowest growth since 1994, contracting between -1 percent (baseline) and -2.9 percent (downside). Poverty can increase between 3 and 11 percentage points from a 50 percent income loss that lasts for six months for households engaged in tourism, wholesale and retail trade, garment, construction, or manufacturing. The fiscal deficit can reach its highest level in 22 years, and public debt is expected rise to 35 percent of gross domestic product (GDP) by 2022. The authorities have introduced emergency measures to contain the outbreak and provide fiscal assistance to affected households, workers, and enterprises. To facilitate a robust recovery, the government will need to continue to ensure macroeconomic and financial sector stability and accelerate trade and investment reforms as well as encourage faster adoption of digital technologies.
Detalhes
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Autor
Ly,Sodeth, Hollweg,Claire Honore, So,Sokbunthoeun, Andrews,Donna Louise, Touk,Khy, You,Sokunpanha
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Data do documento
2020/05/01
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TIpo de documento
Documento de Trabalho
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No. do relatório
148887
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2020/05/28
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Disclosure Status
Disclosed
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Nome do documento
Cambodia Economic Update : Cambodia in the Time of COVID-19 - Special Focus : Teacher Accountability and Student Learning Outcomes
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Palavras-chave
human resource management information system; travel goods; value-added tax; provincial office of education; Program for International Student; tourism; Real estate; regional and global value chains; negotiable certificate of deposit; percent change; small and medium size enterprise; quality of education service; travel and tourism industry; small and medium enterprise; engine of growth; global financial crisis; export sector; student learn outcome; balance of payment; debt sustainability analysis; real estate market; foreign direct investment; foreign currency deposit; Public Health Emergency; Foreign Exchange Reserve; international trade tax; response of societies; footwear export; construction sector; textile product; public health measures; Access to Education; salary for teacher; fiscal policy response; flow of good; gap in education; country of origin; international reserve position; tourism master plan; public health response; related party lending; domestic revenue collection; trade and investment; real economic growth; social security contribution; impact on tourism; social protection scheme; Private Sector Growth; business continuity plan; current account deficit; severity of impact
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