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Cambodia exceeds GDP predictions for 1999

PHNOM PENH: Cambodia exceeded predictions for gross domestic product (GDP) growth in 1999, coming in 0.3 percent above the expected 4 percent, according to a ministry of finance report.

"GDP has increased 4.3 percent in 1999 after a drop to one percent in 1997 and 1998, so 1999 is the beginning of economic growth and the stability of the macroeconomy," said the report, obtained by Reuters on Monday.

Growth in Cambodia's agricultural sector, specifically rice and fisheries production, has bolstered the overall economy, the report said.

A healthy industrial sector, including garment manufacturing, and the growing number of tourists visiting the country also have contributed to GDP, it said.

The ministry of finance has said it expected 5.5 percent GDP growth this year and 6.0 percent in 2001.

Finance officials were not immediately available for comment. -Reuters