Cambodia is among the least developed countries (LDCs) over the world. There are more than 85 percent of population depending on agriculture sector.
According to World Bank’s report, poverty in Cambodia is overwhelmingly a rural phenomenon. In 2004 about 91% of the poor lived in rural areas. Poverty reduction is the government policy to increase economic growth and improve people’s living standards. Population living below poverty line in Cambodia decline to 35% in 2004 from 36%.
Setting a poverty line is an attempt to specify what level of individual consumption of goods and services is necessary for a decent standard of living. The good poverty line is based on the estimated cost of a basket of food that would provide a subsistence-level dietary intake of 2100 calories per day.
However, poverty rate is down gradually, progress in poverty reduction was also not uniform among the poor themselves. The extreme poor have experienced sinificantly slower growth in real consumption than the average poor. Poverty has fallen fastest in Phnom Penh and the Coastal region.
Poor households have higher dependency burden and lack human capital, they tend to be unskilled, uneducated and unhealthy.
Rate of poverty decreases 1% per annum. And government of Cambodia commits to halving poverty in 2015. The fall in poverty have been driven by a combination of high economic growth, macroeconomic stability and improvement of access to services.
On tuesday, national assembly approved the nation development strategy for 2005-2010. The ministy of planning’s miniter said that unemployment will dwindle less than 4%. and this year, GDP is up to 7%.
In the past, government never achieved its goals. So that what they predict is what to make donnor reliable. but in fact that Cambodian people in remote rural areas is still poor and poor. by the way, the rich and power are rich and rich. Why are they still rich???? Why will government strategy be true?. How does they reduce unempleyment rate?
GDP growth of 7% is a big achivement. However, there seem to be nothing to actually prove the rate. The rich is getting richer, the poor is getting poorer. The rich is grabbing the poor’s land,…
Cambodia’s economy grows by 13.8 percent
Source: http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=33&NEWS_ID=198743
Phnom Penh (VNA) – Cambodia’s economy grew by 13.8 percent in 2005, said International Monetary Fund (IMF)’s envoy Jeremy Carter during his meeting with Cambodian Prime Minister Hun Sen in Phnom Penh on May 9.
The envoy said that this is the latest figure released by the IMF to correct its earlier predictions regarding the country’s economic growth rate, which were much lower.
Cambodia was one of the fastest growing economies in the region last year, Carter stressed.-Enditem