Cambodia has had a respectable growth rate in recent years.
However, the country has a steep inflation rate of 25%. As found
in the Phnom Penh Post, government officials explained why the
credit crisis will keep them from sustaining their growth this
year. GLOBAL financial turmoil and rising domestic inflation
likely will keep Cambodia from reaching its poverty-reduction
target this year, Commerce Minister Cham Prasidh has said,
adding that a worsening economy has pushed more Cambodians below
the poverty line. "Every year we have been able to lower poverty
by one percent, but the global financial crisis could affect
this," Cham Prasidh said. While Cambodia continues to post
impressive economic growth estimated at around 6.5 percent,
roughly a third of the population are still living on less than
US$1 a day. Cham Prasidh, speaking Tuesday at a gathering of
industry and trade officials, said that one percent of
Cambodians - around 140,000 people - have fallen below the
poverty line this year. However, the Asian