Phnom Penh – World Bank experts said here Wednesday that Cambodia’s 2030 upper middle-income and 2050 high-income targets are “very ambitious” that requires the country to vigorously invest in human capital and infrastructure.
Cambodia is endeavoring to become an upper middle-income country by 2030 and a high-income country by 2050; however, achieving these targets requires rapid and sustained economic growth, said Norman V. Loayza, lead economist of the World Bank’s development research group.
In the World Bank’s classification, upper middle-income economies are those with a gross national income (GNI) per capital of at least 3,896 U.S. dollars, and high-income economies are those with a GNI per capital of at least 12,056 U.S. dollars.
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