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Cambodia becomes lower-middle income country: PM

Xinhua, March 14, 2016 Adjust font size:

Cambodian Prime Minister Hun Sen said Monday that the Southeast Asian country has moved from the status of a low-income to a lower-middle income nation last year.

"The Gross Domestic Product per capita in Cambodia had reached 1,225 U.S. dollars in 2015, up from 760 U.S. dollars in 2008,"he said at the opening ceremony of a microfinance conference here.

"With this figure, Cambodia becomes the lower-middle income country."

Lower-middle income countries are defined by the GDP per capita between 1,045 U.S. dollars and 12,736 U.S. dollars, according the World Bank's classification.

Meanwhile, the prime minister said the country's poverty rate has remarkably declined to about 14 percent in 2014 from over 53 percent in 2004.

Cambodia has a population of nearly 15 million. People living below the poverty line are defined by an income of less than 1.25 U.S. dollars a day. Endit