Premier predicts high growth
Cambodia’s economic growth could surpass previous estimates and hit 8.7% this year, Prime Minister Hun Sen said in a speech yesterday. Earlier government forecasts estimated growth of 6% for 2011, though increasing garment exports and a strong recovery in the tourism sector have stimulated the economy above expectations, according to the prime minister. “We originally projected the economic growth rate at 6% for the year. However, two months ago, the National Institute of Statistics predicted growth of 8.7%,” he said at a ceremony for the National University of Management students at the Diamond Island Exhibition Center. However, the prime minister highlighted the Kingdom’s need to diversify its exports in light of the economic uncertainty facing the European Union and United States… “Depending on garment and footwear exports and the tourism sector alone is not enough to sustain the country’s economic growth…” he said.
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