Wednesday, July 2, 2025
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

National Bank of Cambodia projects Cambodia economic growth rate of 4 percent for 2021

January 4, 2021
in Business, Cambodia, National
0
National Bank of Cambodia projects Cambodia economic growth rate of 4 percent for 2021
0
SHARES
26
VIEWS
Share on FacebookShare on Twitter

The National Bank of Cambodia (NBC) has forecast that the Kingdom’s estimated economic growth will be 4 per cent in 2021, according to its Macroeconomic and Banking Sector Update 2020 report.

The prediction for positive economic growth is based on the efficacy of COVID-19 vaccines over the first half of the year.

During 2020, updates on the state of the nation’s economy, taking into account the devastation of the pandemic, had predicted an overall contraction of Cambodia’s economy of 1.9 percent.

The latest NBC forecast is in line with international financial institutions’ predictions for Cambodia’s economic growth in 2021. Those figures range from 4 to 6.8 percent.

“The prediction depends solely on the efficacy of the vaccines, the speed in recovery of Cambodia’s economic partners and the strengthening of our domestic economic foundation,” the NBC said.

It added that a continued strengthening in domestic economic activities will support and mitigate the impact on Cambodia’s economy from the slowdown of exports. The implementation of government policy promoting the development of small and medium enterprises, boosting innovation, and the use of technology in all sectors will be significant in strengthening domestic growth.

The central bank said agriculture will be the sector with the highest potential to offset unemployment and support the livelihoods of the poor. It also identified that speeding up economic diversification and its implementation throughout the industrial sector would help the country’s economy recover faster from the current crisis.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Bank of CambodiaCambodiaCambodia economic growthNational Bank of Cambodia
Previous Post

Marvel Garment Co expanding in Phnom Penh Special Economic Zone

Next Post

Why Indonesia is vaccinating its working population first, not the elderly

Related Posts

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

by Khmer Times
July 3, 2023
0
100

Neak Poan Temple is one of the most attractive tourist destinations among the ancient temples, which is located along the...

Cambodian pepper gains direct export rights to China

Cambodian pepper gains direct export rights to China

by Khmer Times
July 3, 2023
0
80

The Chinese Embassy in Cambodia announced today that Cambodian pepper has completed all export procedures to China, which means can...

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

by AsiaOne
June 14, 2023
0
108

One of South Korea's top livestreamers was recently found dead in Cambodia. Byeon Ah-young's body was discovered — wrapped in a...

Most Popular

Cambodia rice production losses caused by droughts about $100 million

Cambodia rice production losses caused by droughts about $100 million

October 1, 2021
16
Is this Japan’s weirdest mascot? Meet Hokkaido’s Zushihocky, part rice, part clam

Is this Japan’s weirdest mascot? Meet Hokkaido’s Zushihocky, part rice, part clam

May 27, 2020
38
Failing to pay tax arrears in Cambodia within 15 days after notification will subject to 25% penalty

Failing to pay tax arrears in Cambodia within 15 days after notification will subject to 25% penalty

November 24, 2020
72
Four Companies team-up to turn Sihanoukville into a Fintech hub in Cambodia

Four Companies team-up to turn Sihanoukville into a Fintech hub in Cambodia

December 2, 2021
33
Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

June 14, 2023
108
Phnom Penh Water Supply Authority capacity to be extended to meet growing demand of Clean Water in Phnom Penh

Phnom Penh Water Supply Authority capacity to be extended to meet growing demand of Clean Water in Phnom Penh

July 18, 2020
69

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!