Monday, 15 December 2008
Government revises down economic growth [-Hun Sen's regime finally waking up to a dose of reality?] Finance Minister Keat Chhon pictured in this file photo. The minister’s latest prediction for 2009 puts growth at five percent. (Photo by: TRACEY SHELTON)
Monday, 15 December 2008Written
by Nguon Sovan The Phnom Penh Post
Minister of Economy and Finance Keat Chhon announced that a slowdown in the garment and real estate sectors could drive growth down to 5.0 percent
GOVERNMENT officials have once again lowered Cambodia's economic outlook, saying the Kingdom will see only five percent growth next year.
The revision follows strident criticism by the National Bank of Cambodia governor last week of the World Bank's prediction that growth would shrink to 4.9 percent next year. Previous government predictions vary from nine percent earlier this year to 6.5 percent last week.
Finance Minister Keat Chhon made the announcement at a meeting on Friday with special envoys of Japanese prime minister - Asean Ambassador Yoshinori Katori and Masakazu Toyoda. The dignitaries were visiting Cambodia to discuss the impacts on Asia of the world economic crisis.
03:49
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