World Bank classifies Zimbabwe as lower-middle-income country





THE World Bank has classified Zimbabwe as a lower-middle-income country for the current 2023 fiscal year.

The Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high income.

The classifications are updated each year on July 1 and are based on the GNI per capita of the previous year (2021).

For the current 2023 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,085 or less in 2021; lower-middle-income economies are those with a GNI per capita between $1,086 and $4,255; upper-middle-income economies are those with a GNI per capita between $4,256 and $13,205; high-income economies are those with a GNI per capita of $13,205 or more.

Source – online