Strong Economic Growth Benefits Cambodian Equally: Official

The strong economic growth that Cambodia has experienced in the past decades has benefited everyone and created opportunities for all, a high-ranking government official said.

Speaking during a press conference held here on Thursday, H.E. Phan Phalla, Under-Secretary of State at the Ministry of Economy and Finance made the point stressing that the revenue generated by the growth has been distributed fairly to people.

The Kingdom's economy has grown at an average of about 7 percent in the last two decades and is improving Cambodians' living standard and income, and allowing them to live more secured lives.

Cambodia's poverty rate has decreased dramatically, from 52 percent in 2004 to around 10 percent as of now � thanks to the high economic performance, H.E. Phan Phalla said.

The Gini index in Cambodia was 0.29 in 2017, down from 0.34 in 2009, according to H.E. Phan Phalla.

The index measures the extent to which the distribution of income among individuals or households within an economy deviates from a perfectly equal distribution.

Peace and political stability have increased the confidence among foreign investors in our economy, and eventually is boosting the economic growth. Cambodians now can also start up a business to increase their income, he continued.

Cambodia's economy growth is projected to slow down to 6.5 percent in 2020, bringing the Kingdom's GDP to US$29.4 billion, and the GDP per capita is expected to hit US$1,816 � according to the Budget Law for 2020.

Source: Agency Kampuchea Press