Cambodia's economy projected to return to positive growth in 2021 as Covid-19 new cases continues to soar, total now above 17,500

An aerial view of central Phnom Penh showing numerous high-rise buildings.- Phnom Penh Post/ANN

PHNOM PENH, May 6 (Xinhua): The Cambodian economy is expected to return to positive growth in 2021 after experiencing a contraction last year, the ASEAN+3 Macroeconomic Research Office (AMRO) said in a press statement on Thursday.

"Despite disruptions in domestic activity due to the recent lockdown, the Cambodian economy is projected to grow by 4 percent in 2021, led by a robust recovery in manufacturing and supported by continued fiscal stimulus," AMRO lead specialist Seung Hyun Hong said in the statement.

"The recent spike in community cases underscores the need for the government's strong response to contain the pandemic and speed up the vaccination rollout to achieve herd immunity," he said.

In 2020, growth was estimated to contract by 3 percent as containment measures in Cambodia and its major trading partners and tourist markets weakened the country's key growth drivers, he added.

The statement was issued after Hong, along with AMRO director Toshinori Doi and chief economist Hoe Ee Khor, made virtual annual consultation with the Cambodian authorities from April 19 to May 4.

Cambodia logged 650 new Covid-19 cases on Thursday, pushing the national case tally to 17,621 with 114 deaths, the Ministry of Health said.

The South-East Asian nation launched an anti-COovid-19 inoculation drive on Feb 10. To date, more than 1.56 million out of the kingdom's 16-million population have been vaccinated against the virus, a government report said.

Meanwhile, four more fatalities had been reported, raising the death toll to 114, the statement said, adding that 739 patients had recovered, bringing the total number of recoveries to 6,843.

Meanwhile, the government ended a 21-day blanket lockdown in capital Phnom Penh and its adjacent Ta Khmau city of Kandal province on Thursday.

However, the local authorities in the two cities continued to place high-risk areas, or Red Zones, under lockdowns and impose travel restrictions in medium-risk areas, or Dark Yellow Zones, for one more week.

The country has shut down all schools, sports facilities, museums, cinemas, and entertainment venues nationwide and has imposed lockdowns in small areas which are deemed to have a high risk of infections. - Xinhua
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Cambodia , Economy , Return , To Growth , 2021 , Despite , Covid-19 , Issues


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