PHNOM PENH, July 18 (Xinhua) -- Cambodia raised inflation rate forecast to 5.5 percent this year, up from its earlier prediction of maximum 5 percent, said the Minister of Finance Keat Chhon (pictured) on Monday.

"As the globe is challenging with high unemployment rates and high inflation rates, Cambodia, a small country with open economy, is obviously unable to escape from these impacts," he said during a meeting with the members of parliament on budget draft for 2012' s expenditure.

"We hope that the rate will decline to 5 percent in 2012," he said.

The soaring price of petroleum is the main cause fueling the high rise of inflation rate in Cambodia, since the start of the year, the price of gasoline increased by 10.6 percent to 1.38 U.S. dollars a liter, up from 1.25 U.S. dollars in January.

The government's revised inflation rate is still lower than that forecast by the International Monetary Fund at 6.5 percent, but it is higher than the World Bank at 5 percent and the same as that of the Asian Development Bank.

Meanwhile, Keat Chhon said that the country's revised GDP (Gross Domestic Products) for 2011 is 6.1 percent and for 2012 is 6. 5 percent.

18 July 2011

Rong Chhun, President of the Cambodian Confederation of Unions (CCU), warns that he will lead an upcoming mass demonstration by workers in August if the government and factory workers continue to refuse to settle with the more than 4,000 workers from the June Textile Co., according to the orders issued by the arbitration council. The workers are demanding for a resolution on their severance and benefit compensations owed to them. During a press conference held in front of more than 300 factory workers at the June Textile Co. at the Sunway Hotel, Rong Chhun warned that worker forces from other factories will join in to support the June Textile workers during a mass demonstration in order to push the government and the factory owners to find a resolution for the workers if there is no immediate resolution on this issue.

File Photo

July 18, 2011
The Nation

Cambodian troops have moved five BM-21 multiple rocket launcher vehicles near the Thai border ahead of the International Court of Justice's decision on Cambodia's complaint against Thailand, a Thai military source said.

The source said the rocket launcher vehicles were deployed near Preah Vihear Temple.

The source said the exact location of the launchers had yet to be detected. He said the artillery unit would be able to detect the launchers if rockets are fired at Thailand.