Sunday, 8 June 2008

Cambodia's economic growth set to slow down

Radio Australia

The International Monetary Fund predicts Cambodia's economic growth will slow by more than three percentage points this year, while inflation rises sharply.

With inflation at 18.7 percent in January, the IMF is urging the Cambodian government to build up its central bank deposits to curb inflationary pressures.

The IMF says growth will drop from 10.3 percent last year to 7 percent because of the downturn in garment exports.

While acknowledging the continuing robust economic activity from growth in tourism and higher prices for rice exports, the IMF warns the country's poor still remain vulnerable.

Under employment and low wages mean that some 35 percent of the country's 14 million people still live on under 50 US cents a day.

No comments: