Inequality in Cambodia is growing rapidly, though high growth rates have all helped to reduce the poverty rate, a senior official of the World Bank said on Tuesday.
Nisha Agrawal, country manager of the World Bank, made the remarks at the launching of the World Bank's annual global publications of World Development Report in 2006.
The 2004 Cambodia Scio-Economic Survey found that the end of conflict, transition to market economics, and resulting high growth rates have all helped to reduce the poverty rate from about 47 percent in 1994 to 35 percent a decade later.
"However, the poverty assessment also found that in many aspects of development, levels of inequality in Cambodia are rising dramatically," said Nisha Agrawal.
While the standards of living of the poorest 20 percent of Cambodians have risen on average by 8 percent over the last decade, the standard of living of the richest 20 percent have risen almost six times as fast, by 45 percent, according to World Bank.
Moreover, living standards in rural areas have risen by an average of 24 percent in the countryside, but by 36 percent in Cambodia's towns, it added.
"Nonetheless, the overall picture is of a Cambodia that is moving forward to the benefit of the great majority, but in which some are moving ahead much faster than others, creating a widening gulf between the opportunities and standards of living for different groups in society," said Nisha Agrawal.
"The royal government understands clearly about challenges in improving equity," said Keat Chhon, minister of Economy and Finance.
"In order to make sure that the benefits of development are equally shared among all people and inequity is addressed, the government has laid out the 'Rectangular Strategy', in which equity is clearly stipulated as one of the main goal to be achieved by the government," he added.
Concern for this rising inequality has led Cambodia to request that the report that the Bank prepares for the next Consultative Group Meeting to be held in June 2007 focus on this issue of rising inequality.
Source: Xinhua
Nisha Agrawal, country manager of the World Bank, made the remarks at the launching of the World Bank's annual global publications of World Development Report in 2006.
The 2004 Cambodia Scio-Economic Survey found that the end of conflict, transition to market economics, and resulting high growth rates have all helped to reduce the poverty rate from about 47 percent in 1994 to 35 percent a decade later.
"However, the poverty assessment also found that in many aspects of development, levels of inequality in Cambodia are rising dramatically," said Nisha Agrawal.
While the standards of living of the poorest 20 percent of Cambodians have risen on average by 8 percent over the last decade, the standard of living of the richest 20 percent have risen almost six times as fast, by 45 percent, according to World Bank.
Moreover, living standards in rural areas have risen by an average of 24 percent in the countryside, but by 36 percent in Cambodia's towns, it added.
"Nonetheless, the overall picture is of a Cambodia that is moving forward to the benefit of the great majority, but in which some are moving ahead much faster than others, creating a widening gulf between the opportunities and standards of living for different groups in society," said Nisha Agrawal.
"The royal government understands clearly about challenges in improving equity," said Keat Chhon, minister of Economy and Finance.
"In order to make sure that the benefits of development are equally shared among all people and inequity is addressed, the government has laid out the 'Rectangular Strategy', in which equity is clearly stipulated as one of the main goal to be achieved by the government," he added.
Concern for this rising inequality has led Cambodia to request that the report that the Bank prepares for the next Consultative Group Meeting to be held in June 2007 focus on this issue of rising inequality.
Source: Xinhua
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