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                              World Bank income rankings: Mauritius, Benin, Tanzania

                              by Carol Mwanzia
                              March 26, 2021
                              in FEATURED
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                              The World Bank on Wednesday classified Mauritius as a High Income country, while Tanzania and Benin are now considered lower-middle income countries, classifications that are being celebrated in these African economies.

                              TANZANIA’S PRESIDENT MAGUFULI

                              Tanzania’s President John Pombe Magufuli, shared the news on social media, highlighting the fact that the feat has been achieved five years earlier than projected.

                              “Today, the World Bank has declared Tanzania Middle Income Country. We had envisaged to achieve this status by 2025 but, with strong determination, this has been possible in 2020,” Magufuli tweeted.

                              Today, the World Bank has declared Tanzania Middle Income Country. In this regard, I congratulate all my compatriots for this historic achievement. We had envisaged to achieve this status by 2025 but,with strong determination, this has been possible in 2020. GOD BLESS TANZANIA.

                              — Dr John Magufuli (@MagufuliJP) July 1, 2020

                              WORLD BANK DATA

                              According to the World Bank data, Tanzania’s Gross National Income (GNI) per capita as of July 1, 2020 is $1,080 up from $1,020 in 2019. Benin’s GNI per capita is $1,250 while Mauritius is now at $12,740. (The GNI per capita is the dollar value of a country’s final income in a year, divided by its population.)

                              “In each country, factors such as economic growth, inflation, exchange rates, and population growth influence GNI per capita. Revisions to national accounts methods and data can also influence GNI per capita,” read part of the World Bank statement explaining the changes in classifications.

                              “National accounts revisions have played a significant role in the upward revision for Benin, Nauru and Tanzania.”

                              SUDAN AND ALGERIA

                              Sudan and Algeria however had their fortunes reversed as they were moved to lower categories. Sudan which was classified as a lower-middle income country in 2019 is now a low income country, while Algeria moved from upper-middle income to lower-middle income.

                              “For Sudan, the GNI series for 2009-2018 has been revised as a result of revisions to the exchange rates. The 2018 GNI per capita figure has been revised down to $840 from the previously published figure of $1,560,” the World Bank explained.

                              “Algeria, Indonesia, Mauritius, Nepal, Sri Lanka and Romania were very close to the respective thresholds last year.”
                              The bank also explained that because the classifications use the GNI of the previous year, the data used does not reflect the impact of the ongoing Coronavirus pandemic.


                              KPA News Reader,

                              KPA – News covers stories that the Kenyan media are afraid to touch. It drives the national debate through real, honest journalism not by misrepresenting or ignoring the facts.

                              KPA – News is emerging as Kenya’s unbiased media for original, investigative reporting, and for breaking news. We are an organization purely dedicated to this critical mission and we need your help to fuel this fight and we need your support in making sure, we bring to attention, the Kenyan Peoples needs.

                              Help us by submitting information to our news desk by emailing us at news@kenyapeoplesassembly.com.

                              Carol Mwanzia

                              Carol Mwanzia

                              Carol is a News Writer and Contributor for The Kenya Times, and its affiliates. She focuses on breaking news, politics, or daily life changing news mostly about the people of Kenya, and Africa as well.

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