Logo of Phnom Penh Post newspaper Phnom Penh Post - GDP at 2% in 1997

GDP at 2% in 1997

GDP at 2% in 1997

Despite recent domestic and regional economic problems, Cambodia saw GDP growth

of about 2% in 1997 as well as low inflation and higher foreign reserves, Finance

Minister Keat Chhon said on Feb 19.

"As part of Southeast Asia, we are not immune from the financial cataclysm in

the region," Chhon told a conference on Cambodia's future role in the Association

of South East Asian Nations.

"In spite of recent domestic and regional turbulence, Cambodia enjoyed GDP growth

in 1997 of about 2%, which is in line with worldwide and regional trends," he

said.

The Cambodian economy grew by 6.5% in 1996 and was on target for similar growth in

1997 until July.

Keat Chhon said last month that GDP growth in 1998 was expected to be 3.5%.

Cambodia's riel currency is not traded internationally and though it has lost some

value since the July turmoil, it has not fallen as much as some other crisis-hit

currencies in the region. - Reuters

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