Resilience and Sustainable Poverty Escapes in Cambodia
Cambodia experienced rapid and sustained economic growth averaging nearly eight percent per year between 1994 and 2015, ranking sixth in the world for growth and attaining middle income status in 2015. This is matched by impressive poverty reduction, which fell from 52 percent in 2004 to 13.5 percent in 2014. In spite of strong rates of poverty reduction, however, the global financial, food and fuel price crises negatively affected Cambodia’s economic growth in 2009. The poorest 20 percent were the worst affected, experiencing the biggest reduction in consumption during and after the crisis. In turn, many who managed to escape poverty remain close to the poverty line and a very large proportion of the population is concentrated at the bottom of the income distribution.