Cambodia exposed to large fiscal risks from disasters
Cambodia, Laos and the Philippines are the three Southeast Asian countries most heavily exposed to fiscal risks from disasters, the World Bank warned Wednesday. In its annual economic update on East Asia and the Pacific, the bank said the region was the most disaster-stricken in the world with more than 1.6 billion people affected by natural catastrophes since 2000. … In the event of a disaster likely to occur only once every 200 years, it warned that Cambodia, Laos and the Philippines could face costs totaling 18 percent or more of total public expenditure. In the case of Cambodia, the bank said, the probable maximum loss would be close to 10 percent of the country’s gross domestic product. …
The Cambodian Herald Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=15&token=NzMyZGM3M2ZiN2Y4ODU1ZDM0ODJjYmI5NDQwMTM3
