A recent Ministry of Economy and Finance report on the 2020 budget pointed to a potential slowdown in the Cambodian economy next year, dropping from an estimated 7 percent in 2019 to 6.5 percent in 2020.
The estimate was released on December 25 as part of a report on next year’s budget and projects GDP growth to be 6.5 percent, a dip it says will result from potential slowdown from “uncertain trade preferences,” a thinly-veiled reference to the EU’s “Everything But Arms” trade scheme.
“[The] garment sector is estimated to have decreased growth due to slow global economic growth and the expected impacts of uncertain trade preferences with some partners,” the report reads.
