Cambodia's poverty rate drops by over 22 per cent in last ten years

[geovalin]

PHNOM PENH: Cambodia's poverty rate fell by more than 22 per cent over the last decade as the nation experienced rapid economic growth. Authorities in the Southeast Asian country said the figure stood at 17.8 per cent in 2020 compared to nearly 40 per cent in 2009. The director-general of Planning at the Ministry of Planning Theng Pagnathun said the poverty rate declined by 1.6 per cent annually during the last decade, driven mainly by rising wages and earnings.

 

According to The Phnom Penh Post, Pagnathun said the decrease was in line with the government's commitment to reduce poverty at a rate of at least one per cent each year. Cambodia's Covid-19 cash transfer programme, launched in June 2020, has also played a significant role as it benefited around 2.8 million people. Explaining that the poverty line procedure would be revised every 15 years, he said it was necessary due to the improved economic growth in Cambodia.

 

He said research showed that there were only 500,000 households below the poverty line pre-Covid but now there was an increase of another 200,000 families. Citing a United Nations Development Programme report on Cambodia that was released last week, Theng said the programme has helped bring down Cambodia's poverty rate over the last two years. According to the World Bank, the national poverty line in Cambodia is 10,951 riel, or US$2.7 a day.

 

read more https://www.nst.com.my/world/region/2022/08/818659/cambodias-poverty-rate-drops-over-22-cent-last-ten-years

 

[ChaiyaTH]

With other words, 90% is still in poverty today and this news was 2 minutes wasting our time.