Cambodia facing drastic rise in poverty amid pandemic

The poverty rate in Cambodia is expected to surge as economic problems arising from a combination of factors are hitting the country hard.

Rapidly rising unemployment caused by Covid-19-related factory closures, rising personal debt of clients of the many microfinance organisations, a decline in exports not only because of the pandemic, but also the recent end of preferred tax regulations for exports to the European Union, as well as a slump in tourism caused by far-reaching travel restrictions turn out to be a toxic mix for the nation of 16.5 million people.

While Cambodia’s good economic development over the past two decades has brought a steady decline in the poverty rate, this preocess is now, at least temporary, reverting.

In full: https://investvine.com/cambodia-facing-drastic-rise-in-poverty-amid-pandemic/

Related Stories

Latest News

The Weekly DispatchA new weekly newsletter from The Cambodia Daily delivering news, analysis and opinion to your inbox. Published every Friday at 11:30am. Sign up today.