The Global Economic Downturn: Opportunity or Crisis?
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 policymakers 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 reorms to strengthen the economy’soundation. 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 workorce annually. The macroand microanalyses that ollow aim to take stock o current trends and to inorm policy dialogue, while keeping in mind the most vulnerable groups.Douglas Broderick Resident CoordinatorUnited Nations in Cambodia