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IMF: Hard landing for Cambodian economy February 16, 2009

Posted by chandrapong007 in Cambodia, Economics.

Cambodia’s economy will come under intense pressure in 2009 as tourism, garments and construction take a hit from the global economic slowdown, according to the International Monetary Fund (IMF). […]

Foreign direct investment will decline and foreign reserves could fall to about 1.9 billion U.S. dollars. […]

Meanwhile, the report predicted 4.8 percent economic growth for Cambodia in 2009, but IMF Resident Representative John Nelmes warned that the projection will be downgraded. […]

The World Bank has forecast 4.9 percent Gross Domestic Products(GDP) growth for Cambodia this year, while the Economist Conference, which belongs to the same company that publishes The Economist magazine, even said that it will nose-dive to 1 percent. Click here for more detail



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