geovalin Posted October 6, 2020 Share Posted October 6, 2020 The Royal Government will stand by its forecast that the economy will not contract by more than -1.9 percent this year. In addition, it has forecasted that positive growth will return in 2021 with an estimated 3.5 percent. MEF spokesman Meas Soksensan, told Khmer Times that the government will stand by its forecast made earlier this year. “If there is a severe impact on the economy because of the COVID-19 pandemic, the government will find ways to reverse it, but in the medium term there is no change as there are three months left to end the current year,” Soksensan added. The Asian Development Bank (ADB) has recently revised its 2020 growth forecast, predicting Cambodia’s economy will contract by 4 percent, from its previous prediction of a 5.4 percent contraction in June because of improved agricultural performance and increased volume of non-garment exports. The World Bank meanwhile has forecasted a sharp contraction of -2 percent for the local economy this year, adding that Cambodia’s unfavourable growth outlook alongside disruptions to jobs and lower household incomes meant poverty is likely to increase. read more https://www.khmertimeskh.com/50770067/government-insists-gdp-contraction-for-2020-will-not-be-more-than-1-9-percent/ Link to comment Share on other sites More sharing options...
hotchilli Posted October 7, 2020 Share Posted October 7, 2020 23 hours ago, geovalin said: The Royal Government will stand by its forecast that the economy will not contract by more than -1.9 percent this year. In addition, it has forecasted that positive growth will return in 2021 with an estimated 3.5 percent. Not sure the populous would agree with that statement. Link to comment Share on other sites More sharing options...
Thailand Posted October 7, 2020 Share Posted October 7, 2020 Drinking from the same glass as the Thai government! 1 Link to comment Share on other sites More sharing options...
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