WB: Cambodians still vulnerable
While the World Bank commended Cambodia for its strong economic growth and efforts to reduce poverty over the past two decades, it, however, cautioned on December 14 that the agriculture and garment sectors posed challenges which could make that growth unsustainable. “An overview of the past two decades, from 1994 to 2014, indicates strong economic growth – with the economy expected to grow at 7.7 percent,” stated the World Bank’s Systematic Country Diagnostic for Cambodia. “Extreme poverty declined from around seven million [Cambodians] in 2004 to 1.6 million in 2013,” added the SCD. The SCD is a study conducted by the World Bank based on empirical evidence, to identify key challenges and opportunities for poverty reduction and inclusive, shared growth and development in Cambodia. Presenting the SCD at a consultative meeting in the National Assembly, Miguel Eduardo Sanchez Martin, senior economist at the World Bank, said that challenges to sustain strong economic growth were in the agriculture and garment manufacturing sectors.
