Country Report Cambodia February 2010

Economic policy: The National Assembly considers foreign borrowing

Hun Sun recently called on the National Assembly (the lower house) to raise the ceiling on offshore borrowing to US$400m, from US$200m at present, to enable the government to finance an expansion of Cambodia's irrigation network. According to Hun Sen, this would increase the country's rice output, which is currently estimated at a maximum of about 7.5m tonnes per year, by permitting farmers to harvest rice twice each year. A rise in the offshore borrowing limit might, however, also make it possible for the government to finance other initiatives previously discussed by officials, such as a fund to assist factory workers who have lost their jobs.

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