March 26, 2008 As accelerating inflation puts more and more people at serious risk, Prime Minister Hun Sen has appealed to Cambodians to be calm over increasing goods prices, especially that of rice, local media reported Wednesday.
Soaring rice prices are due to dishonest merchants inflating their profits, Hun Sen was quoted by the Mekong Times newspaper assaying.
Hun Sen ordered an investigation of rice merchants in Kandal, Kompong Thom and Kompong Cham provinces and asked authorities at all levels and rice stall owners to report any irregularities, the newspaper said.
The premier rejected rumors of a black market for rice in Cambodia, claiming that inflation is due to rising oil prices.
To help Cambodian rice reach local markets, Hun Sen ordered the Ministry of Commerce to put all rice mills across the country into operation.
Meanwhile, Prom Tola, an independent economic advisor, said rising rice prices were partly due to over-exporting.
In 2007, Cambodia produced 6.4 million tons of rice nationwide, a surplus of around two million tons, according to official statistics.
Source: Xinhua
Soaring rice prices are due to dishonest merchants inflating their profits, Hun Sen was quoted by the Mekong Times newspaper assaying.
Hun Sen ordered an investigation of rice merchants in Kandal, Kompong Thom and Kompong Cham provinces and asked authorities at all levels and rice stall owners to report any irregularities, the newspaper said.
The premier rejected rumors of a black market for rice in Cambodia, claiming that inflation is due to rising oil prices.
To help Cambodian rice reach local markets, Hun Sen ordered the Ministry of Commerce to put all rice mills across the country into operation.
Meanwhile, Prom Tola, an independent economic advisor, said rising rice prices were partly due to over-exporting.
In 2007, Cambodia produced 6.4 million tons of rice nationwide, a surplus of around two million tons, according to official statistics.
Source: Xinhua
14 comments:
In the past Cambodian Government used to stock rice for three years before using the old one. That strategy was to combat with rice price increase or with natural desasters. But Hun Sen government didn't have that kind of vision because they are all blinds.They have never responsible to all their ignorance and their mismanagement because they started with ignorance.
Wrong, we have better vision than that, the thing is we just started to stock.
It is time considering the world financial crisis due to the economic récesion in the United States (USA) the royal government must to intervene actively in the economy.
In times of crisis, to leave a total freedom to the private economic agents, it is to deteriorate the economic difficulties of the population.
And it is not good to the approach of the elections 2008.
As the example of the American federal reserve looks at present to save the financial system and dollars American of the bankruptcy.
The liberalism left with himself, without active interventions of the government in times of crisis will lead the country to the bankruptcy as in 1929 to the United States.
The liberalism will produce good things for the economy and the population that if it is framed and supervised and controlled by the political powers in the direction of the general interests of the country.
Ironically, the U.S. is undergoing through economic tulmultuous, because the country is now borrowing money from the developing countries ... when it should have loan them instead. Surprisingly, this is not what it used to be, at least in part, in the United States. What a shame!
Hun Sen Govenment screws up big time with the market inflation!
Resign!!! resign!!! yea!
I think it's better to resign now to face a nation rebellion!
A Hun Sen Out!
In the world financial crisis that knows at present the United States and Europe, and other Asian countries the economy of which is very opened on the financial system world as the Thailande and Vietnam which have stock exchanges.
Cambodia's economy is little got by this world financial crisis because Cambodia has an economic structure still little opened on the world economy, and still has no financial market.
The inflation which Cambodia knows nowadays is an inflation imported by the other countries.
If the government delays taking measures to control its economy and let make the private agents, its growth rate and the speculation are soon going to annihilate all the good economic results that Cambodia up to here knows.
The macroeconomic prevision data realized by the IMF or the World Bank for Cambodia must be seen again and revised and corrected because these forecasts did not take into account the current world financial crisis.
It is doubtful that this situation is the political trick of government-led party CPP to create multifaceted fears in order to gain the political votes.
Of course, the domestic causes are more important than international change. May be near the voting day, the rice price, gas price and other necessities will be surely decreased. And salary will be possibly increased. Hun Sen will become heroic economist and people favor to vote him for another 5 years.
Let observe my prediction.
KY
Kwak nov te kwak! counldn't Vietnamese immigrant issue, and market inflation!
A Hun Sen Out!
Hun Sen, I order you to resign from you office now!
NIM
Come on, 5:51, are you saying that if we have an election tomorrow, the CPP will not win? I don't think many people will agreed with you, dude.
It's the lack of government super vision in regulate the industry. They lets things go out of hand or they simply don't care? or now they pretend they do before the election...
It's the lack of government super vision in regulate the industry. They lets things go out of hand or they simply don't care? or now they pretend they do before the election...
No business want to be regulated, and we shouldn't be regulating anything at this point.
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