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Global Economic Downturn-Opportunity or Crisis?

Global Economic Downturn-Opportunity or Crisis?

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Published by Saravorn
Cambodia has not escaped the impact of the global economic downturn. Poverty estimates produced
in 2007 showed a poverty rate of 30 percent, an improvement from 35 percent in 2004. Helped
largely by high economic growth of an average of 9.5 percent in the last decade, this is a remarkable
achievement. However, Cambodia’s progress in poverty reduction and towards achieving the Cambodia
Millennium Development Goals (CMDGs) is under threat as a result of the impact of the economic downturn.
Cambodia has not escaped the impact of the global economic downturn. Poverty estimates produced
in 2007 showed a poverty rate of 30 percent, an improvement from 35 percent in 2004. Helped
largely by high economic growth of an average of 9.5 percent in the last decade, this is a remarkable
achievement. However, Cambodia’s progress in poverty reduction and towards achieving the Cambodia
Millennium Development Goals (CMDGs) is under threat as a result of the impact of the economic downturn.

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Published by: Saravorn on Feb 18, 2010
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10/23/2011

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United Nations Country TeamNovember 2009
THE GLOBAL ECONOMIC DOWNTURN:OPPORTUNITY OR CRISIS?
 
2
Situation Analysis o Youth in Cambodia
 
EXECUTIVE SUMMARY
 
III
 
i
The Global Economic Downturn: Opportunity or Crisis? 
C
ambodia has not escaped the impact o the global economic downturn. Poverty estimates producedin 2007 showed a poverty rate o 30 percent, an improvement rom 35 percent in 2004. Helpedlargely by high economic growth o an average o 9.5 percent in the last decade, this is a remarkableachievement. However, Cambodia’s progress in poverty reduction and towards achieving the CambodiaMillennium Development Goals CMDGs is under threat as a result o the impact o the economic downturn.In this report,
The Global Economic Downturn: Opportunity or Crisis?,
researchers have drawn on existingsurveys and literature, as well as interviewing policymakers and talking to people on the ground. Thereport ocuses on existing and potential vulnerable groups o people and the role that policy can play inalleviating these vulnerabilities as well as preparing or sustainable and equitable economic recovery. The economic downturn presents an opportunity or the development o a national social protectionsystem and or more urgently undertaking needed structural reorms to strengthen the economy’soundation. At the same time, it presents serious challenges in protecting existing achievements andsustaining people’s livelihoods now and in the uture. The UN in Cambodia is concerned primarily with human development and the impact o the economicdownturn on people, particularly the most vulnerable. Recent economic trends are having a signifcantimpact on women as a result o the closure o garment actories, increasing the vulnerability o women. The economic downturn is also taking place at a time when over 250,000 young people are estimatedto be joining the workorce annually. The macroand microanalyses that ollow aim to take stock o current trends and to inorm policy dialogue, while keeping in mind the most vulnerable groups.Douglas Broderick Resident CoordinatorUnited Nations in Cambodia
FOREWORD

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