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| Tourists are flocking to Cambodia in their millions each year, but concern remains over mismanagement of tourism revenue and other national earnings - School of Vice [credit google] |
PHNOM PENH, Oct. 8 (Xinhua) -- The World Bank kept
Cambodia's economic growth at 6.6 percent this year -- the same rate of its
May's forecast, according to its East Asia and Pacific Economic Data Monitor
released Monday.
In its May's report, it said that Cambodia has been one of
the fastest growing countries in the world over the past 10 years, experiencing
average annual growth of over 8 percent since 2000.
The country's economy is relying on four main pillars --
garment export, tourism, agriculture and construction.
The WB's projection is 0.1 percentage point higher than that
of the Asian Development Bank and the International Monetary Fund.The two
institutions forecast the country's GDP at 6.5 percent this year.
However, all the forecasts are lowered than the 6.9 percent
growth projection by the government, based on the increases in garment export,
tourism and construction.
According to the official figures, during the first seven
months of this year, the country exported garment products in equivalent to
2.51 billion U.S. dollars, a 8 percent rise compared with the same period last
year.
In the first eight months of this year, on the tourism side,
the Southeast Asian nation attracted some 2.33 million foreign tourists, a 24
percent rise compared with the same period last year, whilst in the
construction, the country attracted investment of 1.53 billion U.S. dollars in
construction projects, a 74 percent rise.
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