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Economy grew 7.3 pct in 2018: Ministry


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On the back of strong growth in the garment, construction and hospitality sectors, the national economy expanded by 7.3 percent last year, according to the Ministry of Economy and Finance. Presenting on the ministry’s latest report during a public forum on macroeconomic management and the 2019 budget law, Chheang Vannartith, the ministry’s deputy director-general, said economic growth in 2018 exceeded the government’s expectations.

 

He said the ministry predicts that GDP will expand at a rate of 7.1 percent in 2019 as a result of strong growth in exports and domestic consumption. During the first eleven months of 2018, exports rose by 16.3 percent, while imports increased by 22 percent, with Cambodia buying mostly construction materials and fabrics, according to the report.

 

The garment sector grew by 7.8 percent last year, expanding faster than in 2017 when it grew by 5.8 percent. With the number of affordable residential projects being raised across the capital growing quickly, the construction sector expanded by 18.1 percent, the report pointed out.

 

read more https://www.khmertimeskh.com/50569205/economy-grew-7-3-pct-in-2018-ministry/

 

 
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Sorry. I just do not buy this figure. I am typically skeptical of all governments. But, this one especially, as they seem to have no relationship to truth, and will do just about anything to improve their image, which is in a horrible place at the moment. This government and the army are truly despised by the majority of the Thai people, and nearly all of the ex-pat community. Just look at the millions of hits that rap song got not so long ago. If people truly felt free about expressing themselves here, what they would have to say would not be pretty. The tourism market is contracting, despite the protestations to the contrary. This figure is no doubt pure fiction. 

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The vertically challenged Hun Sen has just been castigating the EU for their plans to withdrawn trade benefits to Cambodia. This now seems highly likely. 

If this is this is the case then these optimistic predictions will go straight out the window. 

PM Prayut should take note of what the EU do to countries which show little respect for human rights.

https://www.aljazeera.com/news/2019/01/hun-sen-opposition-dead-eu-removes-trade-benefits-190114064829703.html

 

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