Cambodia’s Post-COVID-19 Economic Recovery Through Structural Transformation

Abstract

In 2020, the COVID-19 pandemic suddenly halted two decades of booming economic growth in Cambodia. While the crisis was an extraordinary conjunctural shock, it illuminated the structural limitations of a growth model that enabled Cambodia to lift millions of people out of poverty. Therefore, implementing the policy agenda to address these weaknesses became even more pressing.

This chapter puts into perspective some of the triggering factors for success and failures Cambodia encountered towards the lower-middle income status it achieved in 2015 and some of those it will experience while moving towards the upper-middle income status it aims to reach by 2030. Between these two milestones, COVID-19 can be seen as a magnifier of existing weaknesses and a catalyst for remedial policies.