The World Bank classifies Cambodia as a low-income economy.
Vattanac Tower (under construction), Phnom Penh - © awm
The Cambodian income per capita is around 800 $. The World bank definition of low-income country means income per capita of $1,005 or less.
In South East Asia, only Myanmar shares this classification with Cambodia.
Neighboring Laos and Vietnam are considered lower middle-income economies ($1,006 to $3,975), while Thailand is classified as an upper middle-income economy ($3,976 to $12,275).
Indeed:
Cambodia has enjoyed significant economic growth over the past decade with the national poverty rate dropping from 34.7 percent in 2004 to 25.8 percent in 2010.
However, gaps between rich and the poor and inequality between rural and urban areas are still challenging issues.
Dreaming is allowed.
Cambodia might be able to liberate itself from poverty and its low-income status to become a middle-income economy over the next nine years, a government official said.
But then Cambodia’s development paradigm must shift to a higher gear for high productivity and efficiency with equity.
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