Friday, February 29, 2008
AFP
PHNOM PENH -- Cambodia's economy is expected to expand this year by only 7.3 percent, marking a more than two-point downturn after averaging double-digit growth for the past three years, Prime Minister Hun Sen said Thursday.
High global oil prices and an uncertain future for Cambodia's garment industry, a key economic driver in this impoverished country, are the reasons for the expected dip, he told an investors' conference in the capital Phnom Penh. The economy is estimated to have grown by 9.6 percent last year, driven by a galloping tourism sector and construction boom.
AFP
PHNOM PENH -- Cambodia's economy is expected to expand this year by only 7.3 percent, marking a more than two-point downturn after averaging double-digit growth for the past three years, Prime Minister Hun Sen said Thursday.
High global oil prices and an uncertain future for Cambodia's garment industry, a key economic driver in this impoverished country, are the reasons for the expected dip, he told an investors' conference in the capital Phnom Penh. The economy is estimated to have grown by 9.6 percent last year, driven by a galloping tourism sector and construction boom.
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