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Cambodia becomes lower-middle income country

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

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"The gross domestic product (GDP) per capita in Cambodia had reached $1,225 in 2015, up from $760 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 and $12,736, 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 a day.

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