Development

Government Predicts GDP Growth of 6.5% for 2012

by sidet on February 17, 2012

in Economic

Cambodia GDP

Cambodia GDP

The government estimated that economic growth will reach 6.5 percent in 2012, though it warned that debt woes still being played out in markets in Europe and the US could dampen this year’s prospects and said more efforts should be made to trade with other country in the region. With more than three-quarters of Cambodia’s export still going to the US and the European Union in the form of textiles, garments and shoes, Prime Minster Hun Sen said that Cambodia should aim to foster new trade links with other countries.

“We have to strengthen the economic foundations in Cambodia and not only focus on markets in the US and Europe but also look toward markets in Asia,” Mr. Hun Sen said in a speech at the annual Cambodia Outlook Conference in Phnom Penh. “Asian markets are giving a lot of hope to Cambodia for exports and income,” he added. [Read full article…]

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