Wednesday, 2 July 2008

Cambodia Economists Predicts Slower Economic Growth
July 02, 2008

PHNOM PENH, July 2 (Bernama) -- The Cambodian Economic Institute has predicted that the country's economic growth will slow down due to inflation and stagnation of real estate transactions.

Both the factors will drag Cambodia's leg of the economy and is expected to cause more problems hence after, China's Xinhua news agency quoted the institute experts, as saying at a month-seminar on domestic economic situation.

According to official statistics, general commodity price of Cambodia has increased by some 66 percent since the beginning of this year.

Meanwhile, most real estate projects and transactions are on hiatus due to political calculation of the ongoing general election.

The Cambodian government and international financial institutions once estimated that the economic growth rate of Cambodia will reach seven to nine percent in 2008.

The economic growth rate of Cambodia stood at double digits during the past three years due to strong exports of garments and a booming market of infrastructure construction.


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