Wednesday, 16 November 2011
By Nguon Serath
PHNOM PENH, Nov 16 - Cambodia now has USD 3.3 billion in debt which is expected to increase every year as the government needs more money to develop the country. [Other sources put Cambodia's debt at $8 billion].
The government is blamed by the opposition for the debt. However, an economist said that Cambodia needed more money for economic growth and that debt had little impact on the future of Cambodia if effectively used.
“If the government uses that money for economic development, it will boost economic growth,” said Kang Chandararath (pictured), president of the Cambodian Institute for Study and Development
PHNOM PENH, Nov 16 - Cambodia now has USD 3.3 billion in debt which is expected to increase every year as the government needs more money to develop the country. [Other sources put Cambodia's debt at $8 billion].
The government is blamed by the opposition for the debt. However, an economist said that Cambodia needed more money for economic growth and that debt had little impact on the future of Cambodia if effectively used.
“If the government uses that money for economic development, it will boost economic growth,” said Kang Chandararath (pictured), president of the Cambodian Institute for Study and Development
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