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Mixed outlook on the economy

Business insiders, economists. governmemt advisers and officials agree  that the Kingdom’s economic growth is on the rebound from last year’s contraction. The amount of growth expected however, varies among them. This is primarily because the challenges delivered by the Feb 20 community incident and how effectively the nation  has countered them remains unknowable for now.

The community incident, in which four Chinese nationals escaped quarantine from a Phnom Penh hotel, triggered the latest hit to the Kingdom’s economic recovery.

Earlier this year, the Ministry of Economy and Finance (MEF) projected that the Kingdom’s real economic growth could be expected to recover by 4 percent in 2021 following its contraction of 3.1 percent in 2020.

The MEF report included 2021 sector-by-sector growth projections of 0.3 percent for hotels and restaurants, 4.5 percent for the garment industry, 2.9 percent for construction, 2.7 percent for real estate, 1.3 percent in agriculture and 12.5 percent in non-garment manufacturing.

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