Long-term, economic stability of Cambodia remains a serious challenge. To make improvements the government is working with bilateral and multilateral donors, two being the World Bank and International Monetary Fund. With pressing needs, Cambodia will likely deal with economic challenges for the next 10 years, with a need to create an environment so the private sector could develop jobs. The Cambodia GDP (Gross Domestic Product, Current Prices, US Dollar) at the end of 2009 was at $10.804 billion in US dollars, a reduction of 4.19% from 2008, which closed out at $11.28 billion. When looking at the end of 2010, professionals are forecasting that the GDP will increase by 6.01%, taking the numbers to $11.45 billion. However, a significant jump is expected by 2015, ending at $19.482 billion US dollars
Recent reports show the Cambodia population is nearly 14 million. Although the country has faced some serious economic issues that have affected employment, many believe that things will turn around in the coming years because of new measures being put in place. With more than 50% of Cambodia’s population is 21 or younger, it means that education and production skill levels are very low. On a positive note, bordering Laos, Vietnam, and Thailand, the plains of all four countries have an abundance of rice fields, boosting exportation. Additionally, oil and natural gas reservoirs were discovered under the territorial waters of Cambodia in 2005 with professional extraction to start in 2011. This coupled with the number of people traveling to this country, as tourists increasing there is significant hope for the Cambodia uneployment rate.
Two years ago in 2008, the Cambodia Inflation Rate was at 25%. From that time until the end of 2009, an incredible 102.65% reduction was seen, which closed out 2009 at a negative $0.663%. With that, this country was listed as number 166 for world rankings. Now, the end of 2010 is expected to see an even bigger change with a reduction of 883.71%, which would put inflation at a positive 5.20%. So what do forecasters think will happen by the end of 2015? Interestingly, numbers will not be that much different, with expectations at 3.042%.