Debt is necessary for Cambodia's economic growth: economist

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

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Cambodia-Thai trade still on track

Thailand's worst floods in decades had not slowed trade with Cambodia, a Thai official in Phnom Penh said yesterday, claiming many products sought by Cambodia came from areas free of flooding.

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Food prices fuel inflation in China

NEW YORK (CNNMoney) -- Prices in China continued to rise at a steady pace in September, a sign that the world's largest nation still faces significant inflation pressures even amid signs of a slowing global economy.

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China's economy grows at 9.1%

China's economic growth slowed to an annual pace of 9.1% in the third quarter, down from 9.5% in the prior quarter.

NEW YORK (CNNMoney) -- China's red hot economic growth cooled slightly from July through September, but remains the envy of many western countries still struggling to recover from the global economic meltdown.

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