Publication: Cambodia Economic Update: Navigating Global Economic Headwinds
Date
2022-12
ISSN
Published
2022-12
Author(s)
World Bank
Abstract
While recovering from Coronavirus
(COVID-19),Cambodia’s economy is now facing global economic
headwinds. The current account improved in the first half of
2022 as the trade deficit narrowed. Rising global energy,
fertilizer and food prices prompted a surge in inflation.
Rising inflation is particularly harmful to poor households.
To mitigate impacts of the food and oil price shock, the
authorities are planning to introduce additional social
assistance measures, while extending the existing COVID19
cash transfer program until end-2022. Promoting the domestic
economic sectors, focusing on the travel, tourism, and
hospitality industries should help partly offset the
deterioration of external demand conditions. And successful
facilitation of coherent private sector leadership of the
sector should help create a “crowding-in” effect, anchored
to comprehensive long-term plans, catalyzed by public seed
funding. It is equally important to address supply chain
constraints, which include high logistics and transportation
costs to boost export.
Citation
“World Bank. 2022. Cambodia Economic Update : Navigating Global Economic Headwinds. © Washington, DC: World Bank. http://openknowledge.worldbank.org/handle/10986/38371 License: CC BY 3.0 IGO.”