Cambodia’s economy has developed in a rapid and sustainable manner, with an average annual growth rate of 7.7 percent over the past two decades and resilience to the financial crisis in 2008. (Source: Angkor Focus Travel)Hanoi (VNA) – Over the past years, the maintenance of peace, politicalstability and security has created favourable conditions for Cambodia tocontinue obtaining new achievements in socio-economic development and in theimprovement of the people’s living standards.
Cambodia has emergedfrom a low-income country into a low-middle income nation, and is on the pathtowards the high-middle income status by 2030.
Cambodia’s economy hasdeveloped in a rapid and sustainable manner, with an average annual growth rateof 7.7 percent over the past two decades and resilience to the financial crisisin 2008. With the performance, Cambodia has been ranked by the World Bank amongcountries with record high growth rate.
The country’s firm growth has been reflected through outcomesof such sectors as industry, garment-textile, construction, agriculture,tourism and real estate.
It is noteworthy that Cambodia has transformed from anagriculture-based country into a nation driven by industry and services.
Statistics reveal that Cambodian people’s living standardshave been improved significantly, with per capita income increasing from 1,042USD in 2013 to 1,563 USD in 2018.
The poverty rate has also been reduced from 53.5 percent in2004 to 13 percent in 2016, and is expected to be brought down further in thetime ahead. Besides, the income gap has been narrowed down gradually.
The country’s foreign reserves expanded from more than 3.64billion USD in 2013 to more than 9 billion USD in 2017 thanks to increasingforeign direct investment (FDI) inflows.
The Asian Development Bank (ADB) and the WB have forecastthat Cambodia’s economy would grow 7 percent a year during 2018-2019. -VNA
Cambodia has emergedfrom a low-income country into a low-middle income nation, and is on the pathtowards the high-middle income status by 2030.
Cambodia’s economy hasdeveloped in a rapid and sustainable manner, with an average annual growth rateof 7.7 percent over the past two decades and resilience to the financial crisisin 2008. With the performance, Cambodia has been ranked by the World Bank amongcountries with record high growth rate.
The country’s firm growth has been reflected through outcomesof such sectors as industry, garment-textile, construction, agriculture,tourism and real estate.
It is noteworthy that Cambodia has transformed from anagriculture-based country into a nation driven by industry and services.
Statistics reveal that Cambodian people’s living standardshave been improved significantly, with per capita income increasing from 1,042USD in 2013 to 1,563 USD in 2018.
The poverty rate has also been reduced from 53.5 percent in2004 to 13 percent in 2016, and is expected to be brought down further in thetime ahead. Besides, the income gap has been narrowed down gradually.
The country’s foreign reserves expanded from more than 3.64billion USD in 2013 to more than 9 billion USD in 2017 thanks to increasingforeign direct investment (FDI) inflows.
The Asian Development Bank (ADB) and the WB have forecastthat Cambodia’s economy would grow 7 percent a year during 2018-2019. -VNA
VNA
