Cambodia drastically downgraded its economic forecast for 2021 to 2.5 per cent from the 4.1 per cent projection announced at the beginning of the year, due to the deteriorating Covid-19 situation.
The Cambodian Prime Minister announced the revised prediction on August 1 at the launch of the vaccination campaign for the adolescent group aged 12-17, at the Peace Palace in Phnom Penh.
World Bank regional vice-president for East Asia and Pacific Victoria Kwakwa told The Post in mid-July that the Kingdom is working hard to keep SARS-CoV-2 variants at bay, much like other countries in the region.
The Prime Minister said agriculture would for the foreseeable future remain a key player in undergirding Cambodian exports and in maintaining the food security level needed to shore up economic growth.
Agricultural exports have grown beyond expectations, he said. And while milled-rice exports have recorded marginal contractions, paddy shipments to Vietnam and the UAE soared 200 per cent year-on-year, following a Ministry of Agriculture, Forestry and Fisheries report.
Meanwhile, cashew nut exports surged nearly 300 per cent to more than 800,000 tonnes, he said, adding that sales of cassava, mangoes, bananas and other crops have amounted to billions of US dollars.
Author: May Kunmakara
Photo credit: Heng Chivorn
Source: The PhnomPenh Post
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Original published date: 03 August 2021
August 04, 2021
