Written by Sam Rith and Sebastian Strangio
The Phnom Penh Post
SRP and HRP claim falling agricultural prices are hurting Cambodia's export economy, but govt officials say they have $3 billion in reserve.
OPPOSITION lawmakers have made renewed calls for the government to prepare a US$500 million economic stimulus package, claiming the Kingdom's export-oriented economy is being hit hard by falling global prices for agricultural produce.
In a letter sent Tuesday to Prime Minister Hun Sen, 18 parliamentarians from the Sam Rainsy Party (SRP) and Human Rights Party (HRP) restated a request that $500 million be set aside to protect the economy against further degradation.
"Due to a dramatic drop in the price of agricultural produce ... the income as well as the livelihoods of millions of Cambodian farmers has worsened dramatically," stated the letter.
"We hope that the government will prepare measures to help our farmers maintain their livelihoods."
In particular, the letter called for government support of agricultural prices and the provision of low-interest loans to those in financial need, reiterating the contents of a letter SRP President Sam Rainsy sent to Hun Sen on January 16.
‘Lucky' economy
But CPP lawmaker Cheam Yeap dismissed opposition claims, saying Cambodia had been "lucky" to avoid the worst impacts of the crisis and that it has large funds set aside that would cushion the country against financial instability.
"We have prepared things in advance," he said. "Each year we have a reserve budget of between $200 and $300 million. Now we have almost $3 billion in the National Treasury that has not yet been used."
In response, Sam Rainsy dismissed the government's claims it was ready to weather the storm.
"What the government has actually set aside for the fiscal year 2009 as "unplanned expenditures" - $144 million compared with $132 million for 2008 - is not adequate to cope with the deteriorating situation," he wrote in a January 26 letter to the Post.
Export woes
Economist Sok Sina agreed with Sam Rainsy that falling prices would harm the Cambodian economy, saying that grass-roots benefits - such as cheap petrol and rice - were outweighed by the overall decline in prices of agricultural produce.
"The price of petrol has declined, but not much else," he told the Post.
"Low prices benefit many rice consumers, but not if you look at the economy as a whole. Cambodia is a rice-exporting country, and if the price of rice is low, the Cambodian economy will not benefit."
He said that the opposition's call made economic sense, although it lacked details.
"I think it's a good idea. If you look at the budget plan for 2009, you can see [it] has increased compared to 2008. Credit and aid has also increased," he said.
SRP lawmaker Son Chhay called for the Minister of Economy and Finance Keat Chhon to answer concerns set out in the letter when the National Assembly next convenes.
"It is necessary for the public to know about the government's program," he said.
OPPOSITION lawmakers have made renewed calls for the government to prepare a US$500 million economic stimulus package, claiming the Kingdom's export-oriented economy is being hit hard by falling global prices for agricultural produce.
In a letter sent Tuesday to Prime Minister Hun Sen, 18 parliamentarians from the Sam Rainsy Party (SRP) and Human Rights Party (HRP) restated a request that $500 million be set aside to protect the economy against further degradation.
"Due to a dramatic drop in the price of agricultural produce ... the income as well as the livelihoods of millions of Cambodian farmers has worsened dramatically," stated the letter.
"We hope that the government will prepare measures to help our farmers maintain their livelihoods."
In particular, the letter called for government support of agricultural prices and the provision of low-interest loans to those in financial need, reiterating the contents of a letter SRP President Sam Rainsy sent to Hun Sen on January 16.
‘Lucky' economy
But CPP lawmaker Cheam Yeap dismissed opposition claims, saying Cambodia had been "lucky" to avoid the worst impacts of the crisis and that it has large funds set aside that would cushion the country against financial instability.
"We have prepared things in advance," he said. "Each year we have a reserve budget of between $200 and $300 million. Now we have almost $3 billion in the National Treasury that has not yet been used."
In response, Sam Rainsy dismissed the government's claims it was ready to weather the storm.
"What the government has actually set aside for the fiscal year 2009 as "unplanned expenditures" - $144 million compared with $132 million for 2008 - is not adequate to cope with the deteriorating situation," he wrote in a January 26 letter to the Post.
Export woes
Economist Sok Sina agreed with Sam Rainsy that falling prices would harm the Cambodian economy, saying that grass-roots benefits - such as cheap petrol and rice - were outweighed by the overall decline in prices of agricultural produce.
"The price of petrol has declined, but not much else," he told the Post.
"Low prices benefit many rice consumers, but not if you look at the economy as a whole. Cambodia is a rice-exporting country, and if the price of rice is low, the Cambodian economy will not benefit."
He said that the opposition's call made economic sense, although it lacked details.
"I think it's a good idea. If you look at the budget plan for 2009, you can see [it] has increased compared to 2008. Credit and aid has also increased," he said.
SRP lawmaker Son Chhay called for the Minister of Economy and Finance Keat Chhon to answer concerns set out in the letter when the National Assembly next convenes.
"It is necessary for the public to know about the government's program," he said.
12 comments:
Scam Rainsy calls for $500 million stimulus package. "Sam Rainsy Chea mé deuk norm pjeak ph'erl, ké ph'erl, ph'erl tam ké". As matter of facts the government had reserved 3 Billion US Dollars that this scam rainsy didn't even know off.
អស់លោកបក្សជំទាស់អើយ
ហ៊ុនសែន គេមិនស្តាប់លោកទេ។
លោកចាំបានទេ កាលពីឆ្នាំ១៩៩៤ ឬ៩៥
លោកបានប្រាប់គេថា ឲ្យរៀបចំទេសចរនោះ។
ប៉ុន្តែគេបែរជាទៅសួរលោកហ្គោចុកតុងវិញ ដែលគាត់ នោះបានថាដូចលោកដែរ។
Ehh, This guy is crazy or what? It seems that he had followed the U.S. that just stimulate pakage of $ 885 Billion.
Fuck him!! He's not in the Government official rank.
these two guy are suck, man.
Tell be about it.
3:28AM is nothing than moaning and groaning clown about opposition leaders. Do you think of yourself as a lawmaker or a dumber? Stop making a dumb judgment on others.
I agreed with 3:28.
Opposition’s lawmakers are in the government of Cambodia, but as opposition parties and it’s their duties to suggest such a proposal. There is nothing wrong with that. You don’t have to be with the main ruler to present the idea, 3:28AM.
The CPP have reserve of $3 billion dollars wow that mean from today onward they should no longer as for donations from other countries.
In addition since the CPP government have $3 billion dollars in the national interest they should be able to work on SRP propose package and help Cambodian people and protect jobs.
Unless Ah Hun Sen CPP government Lip services again ,,,,
Even thought you are right the CPP would not listen you. Why? Because the CPP think that only CPP is the best one who can get 90seats and makes the country boom more than 10%, inflation boom more than 20%. Cambodian people enjoy this situation very much. Economists should spend more time explain the people about these issues so they understand better so they can choose the right candidate next time.
Even thought you are right the CPP would not listen you. Why? Because the CPP think that only CPP is the best one who can get 90seats and makes the country boom more than 10%, inflation boom more than 20%. Cambodian people enjoy this situation very much. Economists should spend more time explain the people about these issues so they understand better so they can choose the right candidate next time.
ah cipipiii barks same old same like nothing wrong ever happen within their ruling! what's wrong with their leadership? you think people are too as nuts as you? you think you can keep those laid-off from jobs in the dark?
and opposition party should find approach and mechanisms to reach those off-works--perhaps provide them training in servicing, and other sectors. Help train those people at least to realize that the current gov.t hasn't done a damn thing to improve the situation!
During this time one SARONG, a case of noodle worth than the other things during elections and opposition parties know it!
try to reach people in your parties capacity and provide good heart and good will training, though not enough for them to find another job, but to support them emotionally during this world economic downturn.
good luck with your work!you stay with people, people will stay with you.
Ah Scam Rainxy's Party is dead; that is why he seek the $500 millions.
Don't be fool by Pook Veer and his Potato diggers.
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