IMF chief: Cambodia needs to invest more in education, infrastructure
The International Monetary Fund (IMF) Managing Director Christine Lagarde said Tuesday that Cambodia needs to invest more in education and physical infrastructure in order to lay the foundation for future success. … While there has been good progress, Cambodia is still being held back by low levels of education and by inadequate skills, she said, noting that spending on education is still only 2.5 percent, or 335 million U.S. dollars, of the GDP. … However, investing in the future did not end with education, she said, stressing that Cambodia needed investment in infrastructure–especially in power facilities, roads, and bridges. … Meanwhile, Lagarde hailed the Southeast Asian nation for strong economic growth of around 8 percent over the past decade and said the IMF predicted that the country’s growth was expected around 7 percent this year and next. “Cambodia’s performance is driven by its openness to the world, ” she said, noting that the country has seen strong increases in garment exports, foreign direct investment, and tourism. …
The Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/131203/imf-chief-cambodia-needs-invest-more-education-infrastructur
