Cambodia will be high middle-income country by 2030, says PM

[geovalin]

Prime Minister Hun Sen expressed optimism that Cambodia will definitely achieve its vision of a high-middle-income country by 2030 and attributed it to the country’s peace and economic growth, particularly the socio-economic resumption after the pandemic. His remarks came in a meeting to commemorate the 71st Founding Anniversary of the Cambodian People’s Party on Tuesday.

 

In the light of peace, the Cambodian people have achieved great and proud changes, especially in the economic and social fields, he told party members at its headquarters. “Realising high and sustainable economic growth over the past two decades has moved Cambodia from a low-income country to a low-middle-income country and is striving to achieve its vision of a high-middle-income country in 2030,” the premier said.

 

As per the World Bank’s criteria, middle-income countries (MICs) are a diverse group by size, population and income level. They are defined as lower-middle-income economies – when the gross national income (GNI) per capita is between $1,036 and $4,045; and high middle-income economies – with a GNI per capita between $4,046 and $12,535.

 

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