Cambodia’s GDP Per Capita Will Reach US$2,000 in 2023

AKP Phnom Penh, September 19, 2018 —

Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen has positively hoped that Cambodia’s Gross Domestic Product (GDP) per capita will reach US$2,000 by the end of the 6th-mandate Royal Government, i.e. in 2023.

Speaking at a get-together with 27,444 workers and employees from 24 factories and enterprises in Kampong Speu province this morning, the Premier said some economist groups forecasted that Cambodia would achieve an economic growth of about 7.2 percent this year.

“We do hope that we will realise our goal to become an upper middle-income economy by 2030,” he underlined.

According to the Ministry of Economy and Finance, Cambodia’s GDP per capita in 2018 is expected to reach US$1,568, up from US$1,435 last year. Cambodia’s foreign reserves would rise from US$9,050 million in 2017 to US$10,518 million this year. The inflation rate is forecasted to be at 3.5 percent in 2018, down from 3.8 percent the previous year. The country’s economic growth this year would be at the same rate as last year, i.e. 6.9 percent.

Cambodia will do its best to transform itself into an upper middle-income economy by 2030 and a high-income nation by 2050.

By Khan Sophirom