Cambodia's GDP per capita to hit 1,130 USD in 2014: PM

[geovalin]

Cambodia's GDP per capita to hit 1,130 USD in 2014: PM

Aug 18,2014

PHNOM PENH, Aug. 18 (Xinhua) -- Cambodia's GDP per capita is expected to reach 1,130 U.S. dollars this year, an estimated increase of 8 percent from 1,043 U.S. dollars last year, Prime Minister Hun Sen said Monday.

The nation's poverty rate had fallen from 53 percent in 2004 to 19 percent in 2013, he said during a food security and nutrition conference.

"Cambodia stands at number 5 among developing countries that can achieve the Millennium Development Goal earlier than the United Nations-imposed 2015 target," he said.

The prime minister added that the Southeast Asian nation set its long-term vision to become an upper-middle-income country in 2030 and a high-income country in 2050.

According to the World Bank's classifications, an upper-middle- income nation is defined by the GDP per capita between 4,036 U.S. dollars and 12,475 U.S. dollars, while a high-income country is determined by the GDP per capita of 12,476 U.S. dollars or more.

http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235977