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While the Cambodian economy continues to suffer from the impacts of the COVID-19 pandemic, there are signs that economic activity is beginning to pick up. World Bank forecasted that Cambodia's economy is expected to grow by 4 percent in 2021, and 5.2 percent in 2022 and 2023, according to a latest report “Uneven Recovery Drives Growing Inequality Across East Asia and the Pacific” published in March 2021.
“The economic shock caused by the COVID19 pandemic has stalled poverty reduction and increased inequality,” said Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank.
“As countries begin to rebound in 2021, they will need to take urgent action to protect vulnerable populations and ensure a recovery which is inclusive, green and resilient”, she added.
Economic performance has depended on the effectiveness of virus containment, the ability to take advantage of the revival of international trade, and the capacity of governments to provide fiscal and monetary support, the report said.
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