NBC: Economic growth stagnant in first half, to shrink 1.9% in 2020

The National Bank of Cambodia (NBC) said the Kingdom’s economic growth stagnated in the first half amid the Covid-19 blows to the global economy and forecast that gross domestic product (GDP) would contract 1.9 per cent this year.

Its governor Chea Chanto said the Covid-19 outbreak snowballed into a global health catastrophe and created an economic predicament eclipsing in severity the 2008-2009 Financial Crisis.

He noted that key pillars of the Kingdom’s economy such as tourism and manufacturing weren’t spared the sweeping impact of the pandemic.

In full: https://www.phnompenhpost.com/business/nbc-economic-growth-stagnant-first-half-shrink-19-2020

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