PHNOM PENH, July 2 (Bernama) -- The Cambodian Economic Institute has predicted that the country's economic growth will slow down due to inflation and stagnation of real estate transactions.
Both the factors will drag Cambodia's leg of the economy and is expected to cause more problems hence after, China's Xinhua news agency quoted the institute experts, as saying at a month-seminar on domestic economic situation.
According to official statistics, general commodity price of Cambodia has increased by some 66 percent since the beginning of this year.
Meanwhile, most real estate projects and transactions are on hiatus due to political calculation of the ongoing general election.
The Cambodian government and international financial institutions once estimated that the economic growth rate of Cambodia will reach seven to nine percent in 2008.
The economic growth rate of Cambodia stood at double digits during the past three years due to strong exports of garments and a booming market of infrastructure construction.
Both the factors will drag Cambodia's leg of the economy and is expected to cause more problems hence after, China's Xinhua news agency quoted the institute experts, as saying at a month-seminar on domestic economic situation.
According to official statistics, general commodity price of Cambodia has increased by some 66 percent since the beginning of this year.
Meanwhile, most real estate projects and transactions are on hiatus due to political calculation of the ongoing general election.
The Cambodian government and international financial institutions once estimated that the economic growth rate of Cambodia will reach seven to nine percent in 2008.
The economic growth rate of Cambodia stood at double digits during the past three years due to strong exports of garments and a booming market of infrastructure construction.
12 comments:
Real estate or land transactions create little wealth. Basically, they are just transfers of pieces of existing wealth from one owner to another, and some make money in the process.
Construction on those lands create some wealth, but more in countries exporting contruction materials than in Cambodia itself.
Cambodia needs wealth creators. Ealth creators are makers, producers and exporters. Producers and exporters are entrepreneurs. Has Cambodia created and helped such wealth creators? It seems it has created more enterprising consumers and importers?
LAO Mong Hay, Hong Kong
Down and Out ! ah Hun Sen, a third-year- elementary-school- educated Prime Minister with 29 years of holding power, is the Criminal against humanity in Cambodia and is a former Khmer Rouge soldier in Khmer Rouge Regime, from CPP (Communist Pro youn Party)
No surprise, with Ah Desperate Savage Scam Rainxy stirring problem everyday, who will ever feel secured to purchase anything? The fool should have been arrested and locked up for tempering with Khmer's economy long ago.
HRP of Kem Sokha will bring the real systematic of democracy to the country!
Let's hope so; Khmer people deserved a break from Ah Savage Indifel Scam Rainxy's constant abuse and exploitation for political gain.
CPP government is the major corruption government in South East Asia.
Cambodia is gone down hill for 30 years and turn to the poorest country in the world.
Hun Sen and his CPP are not smart enough to run the country.
Cambodia need new well educated government to bring the country backup.
Yes, and then vote for ENG CHHAY EANG, the addicted gambler.
And the worse part of all is Ah Scam Rainxy's cabinet is full of cyclo driver with fake westerner degree.
11:11PM ! You meant HUN SEN'S oldest son?.
No,11:11pm is not ah hun sen's son but he is barking for ah hun sen because he wishes and want to be his dog.
11:28 pm, you are right.
Hun Sen pay 20,000.00 us. Dollars for his PHD degree from the one of University in Thailand, this University does not exist in Thailand either.
Hun Sen older son may be pay a lot more.
Hey, Thailand is not corrupted like the west where anyone can get Phd online without studying.
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