Wednesday, 9 April 2008

Growing Economy Has Faults: UN Agency

By Chun Sakada, VOA Khmer
Original report from Phnom Penh
08 April 2008

Khmer audio (1.01 MB) - Download (MP3)
Khmer audio (1.01 MB) - Listen (MP3)

Strong exports in garments have continued to support a high economic growth rate, but Cambodia's reliance on garment manufacturing is a "key concern," a UN economic group said Tuesday.

In an annual report on the region, the UN Economic and Social Survey of Asia and the Pacific found Cambodia maintained one of the fastest growing economies in the region, but the "narrow export base" from garments made it vulnerable.

Growth in the agricultural sector is necessary for Cambodia to reduce poverty, the group said.
UN resident coordinator Suomi Sakai called the link between agriculture and poverty reduction "fundamental."

The government must find a balance between producers, who want high prices, and consumers, who don't, said Hang Chhuan Narong, secretary-general at the Ministry of Economy and Finance.

The government must also balance high growth rates with high inflation pressure, he said, adding that the government would also continue a "reform program" to increase agricultural productivity.

No comments: