Cambodia Described by World Bank as “Out-of-Extreme Poverty” Nation

Cambodia is among three nations in developing East Asia and Pacific that reduced poverty and improved living standards successfully, according to a new World Bank's report released yesterday.

Cambodia, Indonesia, and the Philippines are out-of-extreme-poverty countries, where extreme poverty levels are low, but so are the shares of the middle class, said the report on Riding the Wave: An East Asian Miracle for the 21st Century.

The three countries have reduced levels of extreme poverty to single digit, it underlined.

In Cambodia, Lao PDR, and Myanmar, the global environment appears less conducive to manufacturing-based export-led development, added the same source.

The report stressed that Cambodia, Lao PDR, Myanmar, Papua New Guinea, the Philippines, and Pacific Island countries are still young, and it will take much longer for those countries to experience significant increases in the old-age dependency ratio.

Source: Agency Kampuchea Press