Hanoi (VNA) – Cambodia’s poverty rate could nearly double to 17.6 percent and unemployment could rise to 4.8 percent, according to a policy brief that assesses the socio-economic impact of COVID-19 in Cambodia released by the UN Development Programme (UNDP) on October 8. It was launched through careful consultation with the Cambodian Ministry of Economy and Fiance (MEF) and other partners. The impact assessment uses three models to measure impact and model scenarios that can mitigate further risks resulting from the pandemic. The assessment estimates that economic growth could contract from an original 6.5 percent for 2020 to minus 4.1 percent. Under this scenario, the poverty rate and unemployment are forecast to surge to 17.6 percent and 4.8 percent, respectively. Cambodia’s poverty rate fell significantly to 10 percent last year from 53.2 percent in 2004. A social protection stimulus of 3.5 percent of GDP would limit GDP contraction to minus 3.3 percent and … [Read more...] about Cambodia’s poverty rate to double to 17.6 pct due to COVID-19: UNDP
Best saving rates
The Covid-19 pandemic came as a great shock to most economies, including Vietnam. Still, Vietnam’s resilience proves this is also an opportunity for the country to give the private sector and the domestic market more attention. The public debt-to-GDP ratio is expected to be 46.1% in 2021, on the basis of GDP revaluation, so it is quite possible to improve this ratio, especially in the context of real interest rates around 0% in developed economies, plus a high savings rate at home. However, policies such as increasing public debt and curbing inflation need to be carefully studied with data of Vietnam concerning the following two issues. … [Read more...] about Demand stimulus: where to begin?
For the claim payment side, we see that those who test positive for the virus can require a very long-term, costly intensive care. Insurance contracts are paying a lot of benefits to cover these costs for customers. We tend to look at the revenue but not at how much benefits have been paid to help customers. After all, paying benefits is the most important job of the insurance contract. … [Read more...] about New mindset needed for insurance industry
Dat said, "People across Vietnam are joining hands to fight the COVID-19 pandemic. As an artist, I feel responsible to do something to contribute to this effort. Wearing masks, using hand sanitizer, keeping social distance... are among things we can do to help contain the virus. This is how we can show our love for the country and our fellow countrymen." … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia on April 13
The government needs to gradually increase FiT or at least adopt a price plan so that investors would be aware of the expected price hikes in the future. In addition, if Vietnam can introduce a bankable power purchase agreement (PPA), it could lead to an increase in international financing, which would help the country meet its renewable energy goals. … [Read more...] about Vietnam’s renewables: Advantages and considerations