The annual inflation rate is expected to drop to single digit this year, he said in a keynote speech for the one-day Business Roundtable, which was hosted by the Economists Conferences to discuss ways for the kingdom to secure sustainable economic development.
"During the last decade of peace and stability, Cambodia achieved high economic growth rate at around 9.4 percent per annum," said the premier in his speech named "Over the Verge of Breakthrough."
"Amazingly, economic growth reached 10.6 percent per annum over the last 5 years, with a peak at 13.3 percent in 2005," he said, adding that the rates stood at 10.8 percent in 2006, 10.2 percent in 2007 and 7.0 percent in 2008.
The inflation rate accelerated to more than 20 percent in the middle of 2008, but dropped to 19 percent at the end of year, he told hundreds of economists, businessmen, entrepreneurs and government officials.
Meanwhile, foreign currency reserves has doubled over the last 2 and half years from 1 billion U.S. dollars in 2006 to 2 billion U.S. dollars in 2008, he said.
The above achievement has helped reduced poverty by over 1 percent annually from 47 percent in 1994 to 30 percent in 2007, he added.
The Economic Conferences is part of the Economist Group, publisher of The Economist magazine, and remains a leading provider of highly interactive meetings, including industry conferences, management events and government roundtables, for senior executives to seek new insights into importance strategic issues.
| Editor: Zhang Xiang |
1 comment:
អំណាច ដូចទឹកមូយថ្លុក បើមិនហូរ រលួយស្អុយទាល់រីង។
there can be no democracy when one family rule with friends and relative and then inter-married to create the ruling dynasty!
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