Cambodia's economy to grow at 6.6% in 2024 from 5.6% in 2023: Ministry

30 Oct '23

1 min read

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Insights

Cambodia's ministry of economy and finance recently projected the country's GDP per capita to hit $2,071 next year—up from some $1,917 this year—and the economy to grow at 6.6 per cent—up from around 5.6 per cent this year.
The country targets an upper middle-income status by 2030 and a high-income status by 2050, according to Prime Minister Hun Manet.

Cambodia’s ministry of economy and finance recently projected the country’s gross domestic product (GDP) per capita to hit $2,071 next year—up from some $1,917 this year—and the economy to grow at 6.6 per cent—up from around 5.6 per cent this year.

The country targets an upper middle-income status by 2030 and a high-income status by 2050, Prime Minister Hun Manet recently told a gathering of garment workers in Phnom Penh.

The poverty rate had dropped from 33.8 per cent in 2009 to 17.8 per cent in 2019, with almost 2 million Cambodians escaping poverty, the prime minister was quoted as saying by a news agency.

With a population of nearly 17 million, people living below the poverty line are defined by an income of less than 10,951 riel ($2.7) per day, according to the World Bank.

Fibre2Fashion News Desk (DS)

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