By Ky Soklim
Cambodge Soir Hebdo (now in English)
The growth predictions for 2008 amount to 7.2%, compared to 10.1% in 2007, according to the National Bank of Cambodia.
These difficulties lie in the textile and construction sectors and are the cause of the decrease in 2008, bringing it back to 7.2%, two points below the rate of 2007, specifies the National Bank of Cambodia in a 50 page report.
The report also mentions the inflation which continues to affect the Cambodian economy, despite the government measures to control it. In one year, the prices allegedly increased with 37.2%, according to the calculations done at the end of the first semester of 2008 by the National Bank of Cambodia.
The inflation affects mainly the food, fuel and textile products.
According to the National Bank, the commercial deficit increased during the first semester. While the volume of exports has increased with 448.5 million dollars, reaching 2.4 billion dollars, the imports have increased with 584 million dollars and reach approximately 3.1 billion dollars for the six first months of the year.
The commercial deficit reaches thus 700 million dollars. Cambodia mainly exports agricultural and farm products (rice, rubber trees, fish) and imports general consumers goods and oil.
These difficulties lie in the textile and construction sectors and are the cause of the decrease in 2008, bringing it back to 7.2%, two points below the rate of 2007, specifies the National Bank of Cambodia in a 50 page report.
The report also mentions the inflation which continues to affect the Cambodian economy, despite the government measures to control it. In one year, the prices allegedly increased with 37.2%, according to the calculations done at the end of the first semester of 2008 by the National Bank of Cambodia.
The inflation affects mainly the food, fuel and textile products.
According to the National Bank, the commercial deficit increased during the first semester. While the volume of exports has increased with 448.5 million dollars, reaching 2.4 billion dollars, the imports have increased with 584 million dollars and reach approximately 3.1 billion dollars for the six first months of the year.
The commercial deficit reaches thus 700 million dollars. Cambodia mainly exports agricultural and farm products (rice, rubber trees, fish) and imports general consumers goods and oil.
5 comments:
If so the civil servent's salary should increase more than 37%. Is the Hun sen government ready to do that?
This is so typical for Mr. Dumbnuts Heng Soy. A declining growth rate, still well above all industrialized countries, doesn't mean the GDP is shrinking. Damn ignoramus, like many of the posters here.
Smart ass 10:28PM you suck Youn pee with your smart father PHD from Hanoi?
Anti-Thai won the election, anti-Vietnam got just 26 seats.
Thailand at least give 200,000 jobs to hopeless poor Cambodians and invest more money.
Vietnam only feed around 2,000 Cambodian beggers only. Communist Country control people very seriously. They can come in cambodia, but we are difficult to get in their country.
7.2% growth is an increase of GDP, not decrease. What an idiot?
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