How Cambodia Improves Its Economy

The battle against the Covid-19 has caused a powerful monetary cost for nations. Set off by the breakdown of worldwide financial yield in the midst of pandemic control measures, worldwide development withdrawal for 2020 is relied upon to hit 3.5 percent, as indicated by International Monetary Fund (IMF) estimates.

While new vaccines were successfully launch toward the end of last year, the resurgence of cases and emergence of new virus variants continue to foster economic uncertainty.

In Cambodia, likewise, the fallout from the pandemic has dampened growth, though it is taking steps to steer its economy out of the crisis.

Tourist numbers have plunged with foreign arrivals dropping 74 percent to 1.2 million between January and September 2020, down from 4.8 million in the same period in 2019.

“Cambodia’s economy has been directly impacted by the pandemic and is projected to contract by 2 percent in 2020. Key sectors have been heavily affected especially tourism, manufacturing exports and construction, which collectively account for more than 70 percent of the country’s GDP growth,” shared Prayag Chitrakar, Country Manager, DHL Express Cambodia, on the impact of Covid-19.