Special Report: Global Financial Crisis
PHNOM PENH, Feb. 13 (Xinhua) -- Some 500,000 Cambodians have been affected
by the global economic downturn, English-language daily newspaper the Phnom Penh
Post on Friday quoted the International Labor Organization (ILO) as saying.
Another one million are expected to feel the pinch in 2009, said an ILO
report of economic assessment of the kingdom.
ILO predicted 19,000 job losses in the garment sector and 25,600 in
construction, as well as 5.1 percent growth in gross domestic products (GDP) in
Meanwhile, it urged the Cambodian government to take strong action to
cushion the effects of the crisis, including establishing a central job
information system, an unemployment program and a multi-sector trade union.
The Cambodian economy was estimated to grow by only seven percent in 2008
and the government is trying to maintain a six percent growth in 2009.
The International Monetary Fund (IMF) predicted 4.8 percent economic
growth, while the World Bank has forecast 4.9 percent GDP growth for Cambodia in