SIEM REAP, Cambodia, Feb. 16 (Xinhua) -- Cambodia will try to maintain its economic growth at 6 percent in 2009, in context of the current global financial crisis, Cambodian Prime Minister Hun Sen said here on Monday.
The annual inflation rate is expected to drop to single digit this year, he said in a keynote speech for the one-day Business Roundtable, which was hosted by the Economists Conferences to discuss ways for the kingdom to secure sustainable economic development.
"During the last decade of peace and stability, Cambodia achieved high economic growth rate at around 9.4 percent per annum," said the premier in his speech named "Over the Verge of Breakthrough."
"Amazingly, economic growth reached 10.6 percent per annum over the last 5 years, with a peak at 13.3 percent in 2005," he said, adding that the rates stood at 10.8 percent in 2006, 10.2 percent in 2007 and 7.0 percent in 2008.
The inflation rate accelerated to more than 20 percent in the middle of 2008, but dropped to 19 percent at the end of year, he told hundreds of economists, businessmen, entrepreneurs and government officials.
Meanwhile, foreign currency reserves has doubled over the last 2 and half years from 1 billion U.S. dollars in 2006 to 2 billion U.S. dollars in 2008, he said.
The above achievement has helped reduced poverty by over 1 percent annually from 47 percent in 1994 to 30 percent in 2007, he added.
The Economic Conferences is part of the Economist Group, publisher of The Economist magazine, and remains a leading provider of highly interactive meetings, including industry conferences, management events and government roundtables, for senior executives to seek new insights into importance strategic issues.
The annual inflation rate is expected to drop to single digit this year, he said in a keynote speech for the one-day Business Roundtable, which was hosted by the Economists Conferences to discuss ways for the kingdom to secure sustainable economic development.
"During the last decade of peace and stability, Cambodia achieved high economic growth rate at around 9.4 percent per annum," said the premier in his speech named "Over the Verge of Breakthrough."
"Amazingly, economic growth reached 10.6 percent per annum over the last 5 years, with a peak at 13.3 percent in 2005," he said, adding that the rates stood at 10.8 percent in 2006, 10.2 percent in 2007 and 7.0 percent in 2008.
The inflation rate accelerated to more than 20 percent in the middle of 2008, but dropped to 19 percent at the end of year, he told hundreds of economists, businessmen, entrepreneurs and government officials.
Meanwhile, foreign currency reserves has doubled over the last 2 and half years from 1 billion U.S. dollars in 2006 to 2 billion U.S. dollars in 2008, he said.
The above achievement has helped reduced poverty by over 1 percent annually from 47 percent in 1994 to 30 percent in 2007, he added.
The Economic Conferences is part of the Economist Group, publisher of The Economist magazine, and remains a leading provider of highly interactive meetings, including industry conferences, management events and government roundtables, for senior executives to seek new insights into importance strategic issues.
2 comments:
I think we'll do 7%. PM is just being conservative as usual.
If you voted for CPP (Cambodian People's Party):
Also known as:
Communist People's Party
Khmer Rouge People's Party
Khmer Krorhorm People's Party
You're support the killing of 1.7 million innocent Khmer peoples.
You're support the killing of innocent men, women and children in Cambodia on March 30, 1997.
You're support murder of Piseth Pilika.
You're support assassination of journalists in Cambodia.
You're support political assassination and killing.
You're support attemted assassination and murder of leader of the free trade union in Cambodia.
You're support corruption in Cambodia.
You're support Hun Sen Regime burn poor people's house down to the ground and leave them homeless.
These are the Trade Mark of Hun Sen Regime.
Hun Sen, Chea Sim and Heng Samrin are Khmer Rouge commanders.
When is the ECCC going to bring these three criminals to U.N. Khmer Rouge Trail?
Khmer Rouge Regime is a genocide organization.
Hun Sen Regime is a terrorist organization.
Hun Sen Bodyguards is a terrorist organization.
Hun Sen Death Squad is a terrorist organization.
Cambodian People's Party is a terrorist organization.
I have declare the current Cambodian government which is lead by the Cambodian People's Party as a terrorist organization.
Whoever associate with the current Cambodian government are associate with a terrorist organization.
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