WB still classifies Tunisia as lower-middle income economy
04/07/2020 13:57, TUNIS/Tunisia

(TAP) -The Tunisian economy continues to be among the lower middle-income economies in the World Bank's new classification of countries according to their gross national income (GNI) for the fiscal year 2020-2021.

This classification is updated annually by the WB on July 1. Ten countries have changed category this year compared to the previous year: Benin, Indonesia, Nauru, Mauritius, Nepal, Romania, Tanzania, Algeria, Sudan and Sri Lanka.

While the first seven countries are moving to a higher income category, Algeria, Sudan and Sri Lanka are moving to a lower income category.

Lower middle-income economies are those with a per capita GNI per capita between $1,036 and $4,045. Low-income economies are defined as those with a GNI per capita of $1035 or less in 2019, while upper-middle-income economies are those with a GNI per capita of between $4,046 and $12,535. High-income economies are those with GNI per capita of $12,536 or more.

Countries' national income per capita is calculated according to the WB Atlas method. The World Bank divides the world's economies into four groups: Low-income, lower-middle-income, upper-middle-income and high-income.

To keep the income classification thresholds fixed in real terms, they are adjusted annually for inflation.

The World Bank made a point of specifying that the GNI figures used for updating the new classification do not yet reflect the impact of the COVID-19 pandemic.

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