Logo of Phnom Penh Post newspaper Phnom Penh Post - PM claims GDP saw 5.5pc rise last year

PM claims GDP saw 5.5pc rise last year

PM claims GDP saw 5.5pc rise last year

Prime Minister Hun Sen has said that Cambodia’s GDP grew by 5.5 percent in 2010, an 0.5 percent rise compared to a projection he made earlier last year.

The International Monetary Fund, World Bank, Asian Development Bank, and Economic Institute of Cambodia, have projected the economy grew by 4.8 percent, 4.9 percent, 5 percent and 6.5 percent respectively last year.

“2010 was a good year for Cambodian economy, with a significant growth of approximately 5.5 percent, attributed to the growth in tourism, agriculture and garments,” said the premier, during the official opening of the ASEAN Tourism Forum, held in Phnom Penh on Tuesday night.

In March, the prime minister predicted 2010 GDP would rise by 5 percent.

At the ceremony on Tuesday, which saw fireworks light up Diamond Island, Hun Sen said that Cambodia achieved tourism growth of 16 percent year on year, with international tourist arrivals of around 2.5 million.

The Economic Institute of Cambodia, which released its projection this month, said that last year the garment sector grew 14.5 percent, the agro-industry grew 13.3 percent and tourism 9.3 percent.It hoped the sectors would continue to grow this year.  

The Ministry of Economy and Finance, ADB, and World Bank have projected GDP growth at 6 percent, with  IMF  predicting 6.8 percent and EIC at 7 percent, for 2011.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Rise in planned flights lifts travel hopes

    Six airlines have applied to resume flights in December, while two others have put in for additional flights and routes, according to State Secretariat of Civil Aviation (SSCA) head Mao Havannall on November 29. These account for 43 new weekly domestic and international flights in December, up 16

  • PM: Do not defile Tonle Sap swamp forest or else

    Prime Minister Hun Sen ordered police to arrest anyone – including government officials – involved with the deforestation of the flooded forests surrounding the Tonle Sap Lake because it is an area important to the spawning of many species of fish, among other reasons. Speaking in a