According to the Ministry of Economy and Finance, Cambodia has spent more over $3 BN in the previous 2 years in order to maintain steady economic activity and solve the socioeconomic consequences of the issues caused by Covid-19 pandemic.
The ministry of finance noted, in its macro-economic strategy overview and public fiscal statement for preparing the outline of Laws on financial management (2023), that emergency intervention measures cost $824 MN and $1.29 BN in 2020 and 2021, respectively. An extra $989 MN has been set aside to carry out the intermediation measures in 2022.
The study, issued on May 31, 2022, also detailed the win over Covid-19 as a result of ten rounds of socioeconomic mediation initiatives. These measures were specifically designed to help companies and traders.
According to the ministry, the effectiveness of the nationwide Covid-19 vaccination drive, improved control of the Covid-19 situation, and a moderate global Covid-19 trend allowed Cambodia to shut the “February twenty communal event” that happened last year.
This was then followed by the country’s reopening, which allowed the complete restoration of domestic socioeconomic activities from the end of 2021,” it stated.
Hong Vanak, Royal Academy of Cambodia’s Internal Economics, Director, told that the government had implemented targeted and “very efficient” stimulus programs in the 2 years after the Covid-19 pandemic hit.
This is especially true with regards to purchasing vaccinations, distributing cash directly to the disadvantaged and suspended workers, and allocating monies through state-owned Small Business Administrations.
“The outstanding effectiveness of immunizations and the extremely low number of cases is a credit to the Covid-19 outbreak treatment and prevention plan,” he added.
According to a Ministry of Health release the next day, June 19, 2022, was the forty fourth day with no new Covid-19 cases, indicating that the Kingdom has been free of Covid-19 since 7 June 2022.