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Cambodia’s economic status raised to lower-middle income
Cambodia’s economic status raised to lower-middle income
Tue, 5 July 2016 – The World Bank has officially revised the status of Cambodia?s economy, moving it up a rung from the low-income bracket into lower-middle income territory ? a reclassification that economists expect will lead to a scale-back of foreign aid and preferential trade access over the coming years.
The transition became official on July 1 following the World Bank?s annual status revision of world economies, which is based on their estimated gross national income (GNI) per capita for the previous calendar year. Read More?