World Bank : "Country’s transition to low-middle income would be officially rec in 2016"

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World Bank : "Country’s transition to low-middle income would be officially rec in 2016"

Post by juansweetpotato » Mon Oct 26, 2015 1:22 pm

Interesting article
A downside to economic success

http://www.phnompenhpost.com/business/d ... ic-success
“Cambodia isn’t going to wake up one day and suddenly face a whole new world just because it is classified as middle income,” he said.

But it will face new challenges. The middle-income trap – an economic term coined to describe the difficulty in transitioning from a middle-income to high-income country – will be a real concern for Cambodia as it moves forward, Higgins added.

High wages, which will impact low-cost manufacturing, and under-investment in infrastructure and education, Higgins said, could see the country getting stuck in the middle-income trap. “In Cambodia, both of those issues are present, so we need to see a lot more investment going into education and infrastructure.”

Miguel Eduardo Sanchez-Martin, senior country economist for the World Bank in Cambodia, said the country’s transition to low-middle income would be officially recorded by the World Bank in July 2016.

He added that this migration would likely result in donors scaling back their grants to Cambodia, but that the government was aware of this and in response was scaling up revenue generation.

“In fact, domestic revenue has been improving during the past several years, thanks to the Public Financial Management Reform Program,” Sanchez-Martin said.

He added that revenue collection improved markedly after the government introduced its five-year national revenue mobilisation strategy last year.
Too soon?
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Re: World Bank : "Country’s transition to low-middle income would be officially rec in 2016"

Post by General Mackevili » Tue Oct 27, 2015 12:12 am

I thought Diamond Island was supposed to be the new Singapore by now, with the world's tallest building on it. What happened?
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Re: World Bank : "Country’s transition to low-middle income would be officially rec in 2016"

Post by StroppyChops » Tue Oct 27, 2015 9:57 pm

General Mackevili wrote:I thought Diamond Island was supposed to be the new Singapore by now, with the world's tallest building on it. What happened?
The world's tallest Cambodian building...
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Re: World Bank : "Country’s transition to low-middle income would be officially r...

Post by kiwiincambodia » Wed Oct 28, 2015 7:33 am

StroppyChops wrote:
General Mackevili wrote:I thought Diamond Island was supposed to be the new Singapore by now, with the world's tallest building on it. What happened?
The world's tallest Cambodian building...
Actually, is was supposed to be the tallest building in SEA.
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Re: World Bank :

Post by juansweetpotato » Wed Oct 28, 2015 9:23 am

kiwiincambodia wrote:
StroppyChops wrote:
General Mackevili wrote:I thought Diamond Island was supposed to be the new Singapore by now, with the world's tallest building on it. What happened?
The world's tallest Cambodian building...
Actually, is was supposed to be the tallest building in SEA.

Not surprised that it's never materialized Not exactly America,China, Malaysia, or the U.A.E. just yet.
Khmer pride does appear somewhat foolish at times. Early days. It might well have been the first LDC in the world to have the tallest building in tag. Come to think of it, it would have represented Cambodian politics to the world quite perfectly.
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