PHNOM PENH, Feb. 20 (Xinhua) -- Cambodia's gross domestic product (GDP) per capita has increased to 2,713 U.S. dollars in 2024, nearly nine times that of the year 2000, Prime Minister Hun Manet said here on Thursday.

"Cambodia has achieved and continued to benefit from peace, political and macroeconomic stability, which have allowed Cambodia to maintain an average economic growth rate of approximately 6 percent over the past decade," he said in a speech during the launch of the National Social Protection Policy Framework 2024-2035.

Hun Manet said this sustained growth has transformed Cambodia into a lower-middle-income country since 2015, while the poverty rate has consistently declined.

He said the Southeast Asian country has targeted an upper-middle-income status by 2030 and a high-income status by 2050.

According to a report from the Ministry of Economy and Finance, the country's GDP per capita is projected to reach 2,924 dollars in 2025.

The report said Cambodia's economy is forecast to achieve a growth rate of around 6.3 percent this year, which will push up the kingdom's GDP to almost 51.4 billion dollars. Enditem

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