Logo of Phnom Penh Post newspaper Phnom Penh Post - GDP up in 2004

GDP up in 2004

GDP up in 2004

Cambodia's economic growth is expected to rise half of one percent next year from

5 percent in 2003, according to the Asian Development Outlook 2003 Update published

by the Asian Development Bank (ADB). That makes it among the fastest growing countries

in the region.

"This is a high rate of growth," said Urooj Malik, country representative

of the ADB. "If we consider the floods, Severe Acute Respiratory Syndrome (SARS),

the [decline in] tourism and the political crises in 1997 and 1998, then this growth

is very positive."

The September 30 report, updating one released in April, noted that Southeast Asia

sustained successive economic blows due to the outbreak of SARS and a generally uncertain

global economy. However, the region's growth prospects were expected to improve overall

from 3.9 percent this year to 4.9 percent in 2004, the report projected.

It cautioned that "financial restructuring and reform still have some way to

go in several countries".

Malik said Cambodia needs to become more "broad-based" economically, and

look at development in areas like agriculture, manufacturing and production. He said

the country could assemble automobiles.

The new forecasts of Cambodia's GDP growth rate made it the fourth highest in the

region for 2004.

MOST VIEWED

  • PM imposes nationwide Covid restrictions, curfew over Delta scare

    Prime Minister Hun Sen late on July 28 instructed the municipal and provincial authorities nationwide to strictly enforce Covid-19 measures including curfew for two weeks from July 29 midnight through August 12 to stem the new coronavirus Delta variant. The instruction came shortly after he issued a directive

  • Two luxury hotels latest quarantine options for inbound travellers

    The Inter-Ministerial Committee to Combat Covid-19 has designated two luxury hotels as alternative quarantine options for travellers who wish to enter Cambodia through Phnom Penh International Airport – Sokha Phnom Penh Hotel & Residence and the Courtyard by Marriott Phnom Penh. In a notice detailing guidelines issued

  • Visa A holders get to quarantine at Himawari Hotel

    The Ministry of Health has permitted foreign diplomats, UN and International NGO officials to undergo quarantine at Himawari Hotel in the capital in case they do not have a separate place suitable for this purpose, but the government would not be responsible for the expenses.

  • Provinces on Thai borders put in lockdown amid Delta fears

    The government has decided to place several border provinces in lockdown for two weeks in a bid to prevent the new coronavirus Delta variant spreading further into community. According a directive signed by Prime Minister Hun Sen late on July 28, the provinces include Koh Kong,

  • Jabs for kids bring hope for school reopenings

    Cambodia is tentatively planning to reopen schools – at least at the secondary level – when the vaccination of children aged 12-17 is completed, even though daily transmissions and deaths in other age groups remain high. Schools across the country have been suspended since March 20, one month

  • China denies Mekong hacking

    As the US and its allies joined hands last week to expose what they allege to be China’s Ministry of State Security’s malicious cyber activities around the world, the attention also turned to Cambodia with the US Department of Justice claiming that four