The International Monetary Fund 's (IMF) Cambodia director has said the forecast 9 percent growth of the Cambodian economy this year is the fruits of the country's steady economic policy reform and slow inflation, according to the latest issue of the Phnom Penh Post published this weekend.
"9 percent is very high growth," IMF Resident Representative John Nelmes was quoted as saying by the newspaper.
The Cambodian economy is surging ahead in most areas, the latest IMF report on this country's economy said, adding that agriculture has improved on 2005's record breaking year, reflecting increases in yields and cultivated land.
"Construction and services, particularly the financial sector, underpin a vibrant urban economy," the IMF report said.
Cambodian tax revenues in the first four months of the year were up 60 percent over the same period in 2006 due to improved collections, it added.
Nine percent growth is a dip from the Asian Tiger style growth of 10.75 last year and 13.5 the year before, but is in line with Cambodia's average economic growth since 2000, the Phnom Penh Post said.
Source: Xinhua
"9 percent is very high growth," IMF Resident Representative John Nelmes was quoted as saying by the newspaper.
The Cambodian economy is surging ahead in most areas, the latest IMF report on this country's economy said, adding that agriculture has improved on 2005's record breaking year, reflecting increases in yields and cultivated land.
"Construction and services, particularly the financial sector, underpin a vibrant urban economy," the IMF report said.
Cambodian tax revenues in the first four months of the year were up 60 percent over the same period in 2006 due to improved collections, it added.
Nine percent growth is a dip from the Asian Tiger style growth of 10.75 last year and 13.5 the year before, but is in line with Cambodia's average economic growth since 2000, the Phnom Penh Post said.
Source: Xinhua
4 comments:
So what have Cambodian people benefited in anyway from the economic boom?
To prove my points! I would like any Cambodian people go to any Cambodian market where average Cambodian people would go and take some surveys on the most basic goods and services and calculate it and compare that to their income earn per month!
Give me a break! If Cambodian people are still struggling to pay the most basic need of goods and services and what is the point of so called economic boom?
This so called economic boom maybe just an artificial one because it is created by foreigners and for foreigners to consume and to enjoy only and for those dirt poor Cambodian people they can't even to afford to buy pig nose with their income! Ahahhahahahahhahah!
8.999999999999% to the CPP wallet. More diamons for te fat pig of Cambodia.
IMF can't see real Cambodia people livelihood.
20 years ago,people lived on lesser than $0.50 a day for some cases per family of 4 or more.
Shortage of food or flood or lesser land for farming,where the hell 9% boom comes from?
Public servants still receive supposedly $25-30 per month before school principals or inspecrors cut.
Today people still live off lesser than $0.50 per day as inflation went up and corruption overboarded.
Yes, there are a lot of poor, desperated,and destitute people in Cambodia. There are also those rich and powerful few that they don't know what to do with their money. I happen to know both sides.
I do not agree with idea of allowing foreigners to own property in Cambodia. If we allow foreigners to own property,more Cambodians will end up in the slump because most of them would end up selling land to foreigners for money.
We have to be careful. Foreigners that are able to own property must create jobs for the natives otherwise they would not be qualified to own any property. They policy has to clear and both sides could benefit from it.
Khmer forever
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