World Bank: Cambodia's development over time Thirty years on, the threat poses the greatest threat of the Kovi-19 pandemic. The World Bank on May 29, 2020 released a report announcing that the pandemic-19 pandemic is causing serious conflict. The main engines for boosting Cambodia's economic growth include tourism, export industry and construction, all representing more than 70 countries. The percentage of economic growth and employment accounts for about 40 percent of the country's total employment.

Because of this, in 2020, growth is expected to be the slowest ever since 1994, with the largest share ever recorded. Will drop by -1 and -2.9 percent, according to the report "Cambodia in the crisis of Kov-19" ( Cambodia in the Time of COVID-19), the World Bank's latest economic update for Cambodia.

In this situation, poverty in 2020 could be 3 to 11 percent higher than the baseline, in other words Levels when there is no Kovir-19 disease, especially among families involved in key sectors – tourism, construction, commerce, manufacturing industries , And the garment industry – if they lose 50% of their revenue for six straight months. At the same time, the fiscal deficit will be the highest it has been in the past 22 years.

The collapse of key drivers of growth has seriously affected economic growth and left at least 1.76 million jobs. Risk. The report also warns that foreign capital inflows are also shrinking, which in turn will lead to a recession. The value of the real estate market has plummeted and is likely to bring an end to the rapid growth of the construction sector. Non-performing loans are expected to become larger in the absence of current loan repayments It has been done for the construction, real estate and sale of residential properties through installments.

In response to the Kuwaiti-19 crisis, the report proposes a number of policy recommendations aimed at urgently assisting economic assistance and health protection. The public revives the economy in the short term and helps to strengthen the resilience of the macro, fiscal and social sectors in the medium term.

"The global crisis caused by the outbreak is a global epidemic," said Managing Director of the World Bank in Cambodia. The disease of Ivory-19 had a major impact on the Cambodian economy by 2020. "
"The World Bank is committed to assisting Cambodia in dealing effectively with the Kuwaiti -19 crisis," she added. This will strengthen the economy in the recovery and resilience in the future. ”

The report also includes a section focusing on the importance of quality education as a key function for human development and for enabling Sustainable growth in Cambodia. Overall, education spending nearly tripled to $ 848 million in 2019, compared to $ 848 million in 2019. $ 343 million in 2014, a fraction of which was spent on teacher salaries. Nevertheless, improving the quality of education in the public school system continues to be a major challenge.

The focus section of this report examines two models of schools – New Generation School and Existing School School Based Management – Because these two model schools have shown reliable results in the quality of education. In both of these models, the major factors contributing to student achievement are: Providing these schools with a degree of autonomy for managing their operations comes with higher accountability, the use of performance-based management. Work, and emphasis on teacher quality.

Particularly important in this report is a list of key policy recommendations to improve the quality of education Cambodia, such as strengthening accountability in public schools, linking salary requirements and raising positions to work achievement , And upgrades to the ability and quality of teachers.
The Cambodia Economic Update is published twice a year, providing short and medium-term updates on macroeconomic conditions. In Cambodia.

By: Kolab