The International Monetary Fund (IMF) has stated in a recent report that oil production out of Cambodia will possibly generate $1.7 billion per year by 2021 according to Asia Times Online.
Based off a study project driven by Chevron off the coast of southern Cambodia, Cambodia holds an estimated 700 million barrels of oil with a starting income of $174 million by 2011.
While the study seems positive for Cambodia, there are many negatives to such a windfall of oil including high inflation due to an mass increase in GDP.
cambodia cambodia economy international monetary fund imf oil production
1 response so far ↓
1 Mr. DUONG KHEANG // Dec 25, 2007 at 8:08 pm
It’s very grate to hear that Cambodia will earn a lot of money through future Oil-production. Cambodia will gain higher GDP to improve his economy. But the problem how Cambodian government use this massive money more efficient to share all citizens. How Cambodian citizens get benefits from this? I think maybe not. Most benefits from Oil will go to Okhna (billionnairs) and powerful people (His Excellency/High General). And left almost nothing to the poor. So, the big gap of INEQUALITY will truely higher and higher. However i hope that this situation will not occure unless the government itself think about their own citizens.
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