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World Bank Sees Solid Growth in Cambodia

The World Bank, during a video conference Tuesday releases its update on economic growth for East Asia Pacific.

A key economic indicator predicts that the Cambodian economy will grow encouragingly in 2006, but not as strongly in 2005, according to the World Bank.

Cambodia's GDP, or gross domestic product, is expected to grow by 8.9 percent during 2006, the World Bank said.

If the projection holds up, 2006 will be the fifth year in a row that the Cambodian economy has grown, according to World Bank numbers. But the economy is cooler than in 2005, when GDP growth was measured at 13.4 percent.

Government spokesman and Information Minister, Khieu Kanharith said the country's industrial and tourism potential has not been reached and that he expects continued growth in 2007.

Opposition lawmaker, Son Chhay questioned the importance of the numbers, saying that most of Cambodia's people live in rural areas and do not benefit from the growth that is mostly happening in urban areas and mostly benefiting the political and economic elite.