AMRO Annual Consultation Report, Cambodia 2021
- Andrew Millar
- Aug 31
- 2 min read
AMRO
Report Description
22nd November 2021 (PDF, 46 pages)
ASEAN+3 Macroeconomic Research Office (AMRO) presents this investment guide, offering a comprehensive evaluation of Cambodia’s economic recovery path post-COVID-19, with a focus on vulnerabilities and policy recommendations to enhance resilience.
Summary
Cambodia’s economic recovery in 2021 was uneven and moderate, shaped by ongoing pandemic disruptions and the vulnerabilities of key sectors. The report highlights risks in tourism, services and finance, while stressing the importance of targeted fiscal and monetary support to strengthen resilience:
The COVID-19 pandemic, heavily hitting tourism-reliant sectors, led to a moderate and uneven recovery in 2021.
The services sector, particularly close contact services, remains highly exposed to renewed outbreaks.
Risks arise from potential deterioration in credit quality and asset-price inflation within the financial sector.
Long-term recovery may be impaired by scarring effects on growth potential.
Continued accommodative fiscal measures are necessary while improving financial system supervision.
Clear communication from the National Bank of Cambodia is critical when unwinding extraordinary policy support.
Accelerated structural reforms are essential to enhance economic competitiveness and resilience.
About AMRO Annual Consultation Report
The Annual Consultation Report series is produced by AMRO to monitor and evaluate the macroeconomic conditions of its ASEAN+3 member economies.
AMRO began producing country-level surveillance reports shortly after its establishment in 2011, and Cambodia has been covered regularly since then.
Each report is based on in-country consultation missions with government agencies, regulators and stakeholders, and provides independent assessments of economic developments, risks and policy challenges.
About AMRO
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organisation, headquartered in Singapore, established to support macroeconomic and financial resilience and stability in the ASEAN+3 region.
It operates as an independent research and surveillance unit, supporting the Chiang Mai Initiative Multilateralisation (CMIM), a regional liquidity and financial stability mechanism.
AMRO serves 14 member economies: the 10 ASEAN countries, plus China, Hong Kong (China), Japan and South Korea, and carries out several core functions, including macroeconomic surveillance, CMIM-related support, technical assistance, annual consultation reports, policy advice and operating as a regional knowledge hub.