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Logo of Phnom Penh Post newspaper Phnom Penh Post - $1 billion reserves

$1 billion reserves

Cambodia's foreign currency reserves have exceeded $1 billion - a nine-times increase

since 1994 - because of sustained economic growth, Prime Minister Hun Sen said on

February 27. He also said Cambodia's annual per capita income rose to $500 last year,

and attributed both factors to reforms implemented by the government.

The Cambodian economy, fueled largely by the garment industry, has grown on average

9.5 percent a year since 1999, according to statistics. Last year's growth was 10.4

percent, lower than the 13.5 percent in 2005 but still one of the highest rates in

Asia.

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