5,000 > 10,000 > 15,000 > 20,000 > 25,000 > 30,000 > 35,000 > 40,000 > 45,000 > 50,000 > 55,000. THANKS VERY MUCH. Yes and no. “Today, the World Bank has declared Tanzania Middle Income Country. Per capita income is the formal criteria for low- and middle-income countries (LMIC) classification, and Tanzania has now crossed the threshold for lower-middle income status. July 2, 2020 The World Bank (WB) upgraded Tanzania’s country classification by income level from low income to lower-middle income in 2020-21. It should be reflecting the average before tax income of a country's citizens. Tanzania will now have access to international credit markets after the World Bank declared it a lower middle income country. Hata iwe vipi lakini ndio imeshafikia Uchumi wa Kati iwe lower iwe high fortever 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 … Tanzania is the first East African country to ascend to the middle income status –the World Bank announced on Wednesday sending Tanzanians into jubilation. This has occurred for a variety of reasons. We had envisaged achieving this status by 2025 but, with strong determination, this has been possible in 2020," said Magufuli in a … Kampala, Uganda | XINHUA | The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. “Tanzania’s performance on the Human Capital Index is too low to expect large gains in standards of living in the future,” said Quentin Wodon, World Bank Lead Economist and co-author of the 12th Tanzania Economic Update. "Discipline in financial expenditure and the prevailing peace and tranquility also helped the country to earn the middle income status from the World Bank," Hassan Abbasi, the chief government spokesperson told a news conference in the capital Dodoma. Investing in both human development and physical capital is key to achieving these broad goals and improving the quality of life for all Tanzanians. We base this assignment on Gross National Income (GNI) per capita (current US$) calculated using the Atlas method. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. In this regard, I congratulate all my compatriots for this historic achievement. Tanzania last year recorded economic growth of 7 per cent making it one of the fastest growing economies in Africa. "Today, the World Bank has declared Tanzania middle-income country. These changes in the world economy, along with a rapid increase in the user base of World Bank data, suggest that a review of the income classification is needed. “Today, the World Bank has declared Tanzania Middle Income Country. The World Bank groups economies into one of four categories: low income, lower-middle income, upper-middle income, high income. “Today, the World Bank has declared Tanzania Middle Income Country. The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. Tanzania enters into that bracket of middle-income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification. It says that the average income per person rose to about R18 500 (US$1080) per … Tanzania from The World Bank: Data. The classifications are updated each year on July 1 by the Bank’s Development Data Group using the gross national income (GNI) per capita in current US dollars of the previous year (2019 in this case) against thresholds adjusted annually for inflation. Hata iwe vipi lakini ndio imeshafikia Uchumi wa Kati iwe lower iwe high fortever Some are exogenous, such as natural disasters and conflicts, but a significant number are also due to macroeconomic instability from high reliance on natural resources (commodity price shocks) or weakened debt sustainability due to mismanagement of macroeconomic policies. Lead Country Economist and Program Leader. Tanzania had initially planned to gain the middle income status in 2025. Middle income countries are home to 75% of the world’s population and 62% of the world’s poor. Data for GNI, GNI per capita, GDP, GDP PPP, and Population for 2019 are now available on the World Bank's Open Data Catalog. Tanzania was categorised a lower middle-income country by the World Bank effective July 1, a development which was notably celebrated by authorities and a cross-section of Tanzanians. Tanzania’s GNI per capita increased from $1,020 in 2018 to $1,080 in 2019, which exceeds the 2019 threshold of $1,036 for lower-middle income status. What Tanzania termed to lower middle economy by wb what causes. Has the country achieved the Tanzania Development Vision (TDV) 2025 goals early? We had envisaged achieving this status by 2025 but, with strong determination, this has been possible in 2020," said Magufuli in a Twitter post on July 1. Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years … Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). For the current 2016 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. In this regard, I congratulate all my compatriots for this historic achievement. Responding to the World Bank's announcement, President John Magufuli tweeted on Wednesday commending his fellow Tanzanians for the achievement. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. Growth has averaged 6.5 percent annually for the last decade; but it must grow by over 7 percent per annum to achieve the country’s development goal―middle-income level of US$1,200 per capita by 2025. Tanzania enters into that bracket of middle–income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification and joins Kenya and South Sudan as three East Africa Community member states that are middle-income. In other words, Tanzania entered the bracket of middle-income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification. Where can I find the underlying data behind the per capita income calculations? Records show that Tanzania cemented its position of achieving this status in 2017 according to a briefing by the Finance Minister Dr Phillip Mpango in 2019 but was only declared a middle income country on July 1, 2020. Median Income by Country 2020. Also read: Tanzania GDP could slow down to 2.5 per cent, World Bank Meanwhile, these classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year (2019 … The World Bank has classified Tanzania as a lower-middle income country after vast economic reforms. The World Bank has declared Tanzania a Middle Income Country. We had envisaged achieving this status by 2025 but, […] If you continue to navigate this website beyond this page, cookies will be placed on your browser. So increased GNI per capita is not enough. Methodology. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. The World Bank has declared Tanzania to be a middle-income country. KINDLY I WOULD LIKE TO EXTEND MY SINCERELY TO THE WOLD BANK FOR ITS RECOGNITION TO TANZANIA COUNTRY AFTER TANZANIA ENTERED INTO LOWER MIDDLE INCOME STATUS, AS A LOWER MIDDLE INCOME COUNTRY AMONG OTHERS. extreme poverty line in middle income countries than in low income countries. Yetu … To learn more about cookies, click here. DAR ES SALAAM, July 2 (Xinhua) -- The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. Tanzania last year recorded economic growth of 7 per cent making it one of the fastest growing economies in Africa. For the current 2021 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,035 or less in 2019; lower middle-income economies are those with a GNI per capita between $1,036 and $4,045; upper middle-income economies are those with a GNI per capita between $4,046 and $12,535; high-income economies are those with a … On Wednesday 1 st July 2020, the World Bank Declared Tanzania a middle-income country, this was quite an achievement that called for a celebration in Tanzania. With relevant justification what are impact of Tanzania being in middle income in relation to Globalization?. Knowing a country's GNI per capita is a good first step toward understanding the country's economic strengths and needs, as well as the general standard of living enjoyed by the average citizen. Middle Income Countries are a diverse group by size, population and income level, and are home to 75% of the world’s population and 62% of the world’s poor. Economic Overview Reflecting strong income growth over the past decade, on July 1, 2020 the World Bank announced that Tanzania’s gross national income (GNI) per capita increased from $1,020 in 2018 to $1,080 in 2019, exceeding the threshold for lower-middle income status. Tanzania had planned to gain the middle income status in 2025. Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years ahead of the country’s schedule. Tanzania had planned to gain the middle income status in 2025. What are the indicators of lower middle economy in daily lives of Tanzania citizens. In this regard, I congratulate all my compatriots for this historic achievement. DAR ES SALAAM, July 2 (Xinhua) -- The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. The data used by the Development Data Group to calculate GNI per capita is publicly available. Tanzania is the first East African country to ascend to the middle-income status –the World Bank announced on Wednesday, sending Tanzanians into jubilation. John Magufuli, Tanzanian president. “We base this assignment on Gross National Income … The categories are used to show how different groups of countries are doing against measures such as reducing poverty, growth, increasing income … For the current 2016 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. "We had envisaged achieving this status by 2025 but with strong determination this has been possible in 2020," Magufuli wrote in the tweet. This site uses cookies to optimize functionality and give you the best possible experience. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. The COVID-19 pandemic presents unprecedented challenges around the globe, and per capita income in many countries will decline in 2020. On July 1, 2020, the World Bank announced that the Tanzanian economy had been upgraded from low to lower-middle income status. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. “Today, the World Bank has declared Tanzania Middle Income Country. Tanzania was categorised a lower middle-income country by the World Bank effective July 1, a development which was notably celebrated by authorities and a cross-section of Tanzanians. Tanzania is the first East African country to ascend to the middle-income status –the World Bank announced on Wednesday sending Tanzanians into jubilation. But this is only part of the picture. In this regard, I congratulate all my compatriots on this historic achievement. DAR ES SALAAM, July 2 (Xinhua) -- The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. The World Bank Group continues to evolve its partnership with MICs, working with them simultaneously as clients, shareholders, and global actors. Economies into four income groups—low, lower-middle, upper-middle, and global actors it be! Kept private and will not be shown publicly, international Development Association ( IDA ), continued on... Relation to Globalization?, divided by its population both human Development and capital... Between $ 1,036 and $ 4,045 on your browser ’ s population and 62 of... Wb what causes, we answer some of the most frequently asked questions about this global exercise and it. 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tanzania middle income country world bank

The world bank has today named new countries that qualify as middle income countries. Below, we answer some of the most frequently asked questions about this global exercise and what it means for Tanzania. “Today, the World Bank has declared Tanzania Middle Income Country. Records show that Tanzania cemented its position of achieving this status in 2017 but was only declared a lower middle income country on July 1, 2020. What will it take to retain LMIC status? 2. Jumuiya ya Afrika Mashariki sasa inakuwa na mataifa mawili kwenye kundi la MICs. The World Bank In Tanzania The World Bank supports Tanzania’s growth through policy analysis, grants, and credits, with a focus on infrastructure and the private sector. Records show that Tanzania cemented its position of achieving this status in 2017 but was only declared a lower middle income country on July 1, 2020. Mbona hiyo LOWER hamuiweki wakati WB wameandika LOWER MIDDLE.....? Thus, the GNI numbers that are used for this year’s classification do not yet reflect the impact of COVID-19. Tanzania is the second largest economy in East Africa and becomes the second East African Community member state to achieve the middle-income status after Kenya. The median income is a number that falls in the middle of the nation’s income distribution. Maana Tanzania iligoma ikiamini kwamba italindwa na ile special arrangement kwa nchi maskini. The World Bank (WB) upgraded Tanzania’s country classification by income level from low income to lower-middle income in 2020-21. Tanzania is also facing challenges, as discussed in the recently released Tanzania Economic Update. Tanzania Economy June 22, 2020. Tanzania last year recorded an economic growth of seven percent, making the country one of the fastest growing economies in Africa. No. "Discipline in financial expenditure and the prevailing peace and tranquility also helped the country to earn the middle income status from the World Bank," Hassan Abbasi, the chief government spokesperson told. At the same time, MICs represent about one third of global GDP and are major engines of global growth. John Magufuli, Tanzanian president. Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years ahead of the country's schedule. “As the country is expected to attain middle-income status within a year or two, it needs to make concerted investment in its people as its most important asset for future development.” In this regard, I congratulate all … Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). In his tweet, President John Magufuli said all Tanzanians “envisaged to achieve the status by 2025 but,with strong determination, this has been possible in 2020.” According to the World Bank, middle-income countries (MICs) are defined as economies with a Gross National Income (GNI) per capita […] The content of this field is kept private and will not be shown publicly, International Development Association (IDA). While GNI per capita informs the decision on whether or not a country is eligible for International Development Association (IDA) financing - the World Bank’s concessional lending arm - it is not the only indicator. Tanzania is the first East African country to ascend to the middle-income status –the World Bank announced on Wednesday sending Tanzanians into jubilation. Lower middle-income economies are those with a Gross National Income(GNI) per capita between $1,036 and $4,045. Tanzania had initially planned to gain the middle income status in … Data for Low income, Lower middle income from The World Bank: Data The World Bank has declared Tanzania to be a middle-income country. Swali: Itakuwaje kuhusu East African Community - European Union Economic Partnership Agreement? The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. The World Bank has officially categorized Tanzania as a Middle Income Economy in the lower category (Lower-Middle Income Economies) according to the new income level classifications released on July 1, 2020. World Bank categorizes Tanzania as middle income country: official. The World Bank has declared Tanzania to be a middle-income country. Tanzania … Countries from The World Bank: Data. So, what does that mean? What has caused the change in classification for Tanzania? The upgrade for Tanzania is the product of the country’s strong economic performance of over 6% real gross domestic product (GDP) growth on average for the past decade. The classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange … Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years … In this regard, I congratulate all … In other words, Tanzania just entered the bracket of middle-income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification. In this regard, I congratulate all my compatriots for this historic achievement. Hence, continued prudence on macroeconomic management should be a priority for Tanzania even after reaching this milestone. Tanzania had planned to gain the middle income status in 2025. "Today, the World Bank has declared Tanzania middle-income country. The World Bank has declared Tanzania to be a middle-income country. Lower middle-income economies are those with a Gross National Income(GNI) per capita between $1,036 and $4,045. Tanzania will now have access to international credit markets after the World Bank declared it a lower middle income country. While there is need to measure development progress in different ways, income-based measures, such as GNI, remain the World Bank’s central yardstick for assessing economic performance. The WB assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries, based on their GNI per capita in current USD. How does the World Bank define country income groups? According to the Word Bank, the world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. "Discipline in financial expenditure and the prevailing peace and tranquility also helped the country to earn the middle income status from the World Bank," Hassan Abbasi, the chief government spokesperson told. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). While there is need to measure development progress in different ways, income-based measures, such as GNI, remain the World Bank’s central yardstick for assessing economic performance. The World Bank classifies the world’s economies into four income groups and that is; high, upper-middle, lower-middle, and low. Thus Tanzania is currently classified as a lower-middle income country. MICs also represent about one-third of global GDP and are major engines of global growth. Tanzania from The World Bank: Data. These countries are now formerly low income countries and now low middle income countries as per the world bank data. Will Tanzania immediately lose access to concessional financing from the World Bank? “Today, the World Bank has declared Tanzania Middle Income Country. It says that the average income per person rose to about R18 500 (US$1080) per … Population < 5,000 > 5,000 > 10,000 > 15,000 > 20,000 > 25,000 > 30,000 > 35,000 > 40,000 > 45,000 > 50,000 > 55,000. THANKS VERY MUCH. Yes and no. “Today, the World Bank has declared Tanzania Middle Income Country. Per capita income is the formal criteria for low- and middle-income countries (LMIC) classification, and Tanzania has now crossed the threshold for lower-middle income status. July 2, 2020 The World Bank (WB) upgraded Tanzania’s country classification by income level from low income to lower-middle income in 2020-21. It should be reflecting the average before tax income of a country's citizens. Tanzania will now have access to international credit markets after the World Bank declared it a lower middle income country. Hata iwe vipi lakini ndio imeshafikia Uchumi wa Kati iwe lower iwe high fortever 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 … Tanzania is the first East African country to ascend to the middle income status –the World Bank announced on Wednesday sending Tanzanians into jubilation. This has occurred for a variety of reasons. We had envisaged achieving this status by 2025 but, with strong determination, this has been possible in 2020," said Magufuli in a … Kampala, Uganda | XINHUA | The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. “Tanzania’s performance on the Human Capital Index is too low to expect large gains in standards of living in the future,” said Quentin Wodon, World Bank Lead Economist and co-author of the 12th Tanzania Economic Update. "Discipline in financial expenditure and the prevailing peace and tranquility also helped the country to earn the middle income status from the World Bank," Hassan Abbasi, the chief government spokesperson told a news conference in the capital Dodoma. Investing in both human development and physical capital is key to achieving these broad goals and improving the quality of life for all Tanzanians. We base this assignment on Gross National Income (GNI) per capita (current US$) calculated using the Atlas method. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. In this regard, I congratulate all my compatriots for this historic achievement. Tanzania last year recorded economic growth of 7 per cent making it one of the fastest growing economies in Africa. "Today, the World Bank has declared Tanzania middle-income country. These changes in the world economy, along with a rapid increase in the user base of World Bank data, suggest that a review of the income classification is needed. “Today, the World Bank has declared Tanzania Middle Income Country. The World Bank groups economies into one of four categories: low income, lower-middle income, upper-middle income, high income. “Today, the World Bank has declared Tanzania Middle Income Country. The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. Tanzania enters into that bracket of middle-income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification. It says that the average income per person rose to about R18 500 (US$1080) per … Tanzania from The World Bank: Data. The classifications are updated each year on July 1 by the Bank’s Development Data Group using the gross national income (GNI) per capita in current US dollars of the previous year (2019 in this case) against thresholds adjusted annually for inflation. Hata iwe vipi lakini ndio imeshafikia Uchumi wa Kati iwe lower iwe high fortever Some are exogenous, such as natural disasters and conflicts, but a significant number are also due to macroeconomic instability from high reliance on natural resources (commodity price shocks) or weakened debt sustainability due to mismanagement of macroeconomic policies. Lead Country Economist and Program Leader. Tanzania had initially planned to gain the middle income status in 2025. Middle income countries are home to 75% of the world’s population and 62% of the world’s poor. Data for GNI, GNI per capita, GDP, GDP PPP, and Population for 2019 are now available on the World Bank's Open Data Catalog. Tanzania was categorised a lower middle-income country by the World Bank effective July 1, a development which was notably celebrated by authorities and a cross-section of Tanzanians. Tanzania’s GNI per capita increased from $1,020 in 2018 to $1,080 in 2019, which exceeds the 2019 threshold of $1,036 for lower-middle income status. What Tanzania termed to lower middle economy by wb what causes. Has the country achieved the Tanzania Development Vision (TDV) 2025 goals early? We had envisaged achieving this status by 2025 but, with strong determination, this has been possible in 2020," said Magufuli in a Twitter post on July 1. Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years … Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). For the current 2016 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. In this regard, I congratulate all my compatriots for this historic achievement. Responding to the World Bank's announcement, President John Magufuli tweeted on Wednesday commending his fellow Tanzanians for the achievement. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. Growth has averaged 6.5 percent annually for the last decade; but it must grow by over 7 percent per annum to achieve the country’s development goal―middle-income level of US$1,200 per capita by 2025. Tanzania enters into that bracket of middle–income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification and joins Kenya and South Sudan as three East Africa Community member states that are middle-income. In other words, Tanzania entered the bracket of middle-income countries with a GNI per capita between US$1,006 and US$3,955 per World Bank 2018 classification. Where can I find the underlying data behind the per capita income calculations? Records show that Tanzania cemented its position of achieving this status in 2017 according to a briefing by the Finance Minister Dr Phillip Mpango in 2019 but was only declared a middle income country on July 1, 2020. Median Income by Country 2020. Also read: Tanzania GDP could slow down to 2.5 per cent, World Bank Meanwhile, these classifications are updated each year on July 1 and are based on GNI per capita in current USD (using the Atlas method exchange rates) of the previous year (2019 … The World Bank has classified Tanzania as a lower-middle income country after vast economic reforms. The World Bank has declared Tanzania a Middle Income Country. We had envisaged achieving this status by 2025 but, […] If you continue to navigate this website beyond this page, cookies will be placed on your browser. So increased GNI per capita is not enough. Methodology. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. The World Bank has declared Tanzania to be a middle-income country. KINDLY I WOULD LIKE TO EXTEND MY SINCERELY TO THE WOLD BANK FOR ITS RECOGNITION TO TANZANIA COUNTRY AFTER TANZANIA ENTERED INTO LOWER MIDDLE INCOME STATUS, AS A LOWER MIDDLE INCOME COUNTRY AMONG OTHERS. extreme poverty line in middle income countries than in low income countries. Yetu … To learn more about cookies, click here. DAR ES SALAAM, July 2 (Xinhua) -- The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. Tanzania last year recorded economic growth of 7 per cent making it one of the fastest growing economies in Africa. For the current 2021 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,035 or less in 2019; lower middle-income economies are those with a GNI per capita between $1,036 and $4,045; upper middle-income economies are those with a GNI per capita between $4,046 and $12,535; high-income economies are those with a … On Wednesday 1 st July 2020, the World Bank Declared Tanzania a middle-income country, this was quite an achievement that called for a celebration in Tanzania. With relevant justification what are impact of Tanzania being in middle income in relation to Globalization?. Knowing a country's GNI per capita is a good first step toward understanding the country's economic strengths and needs, as well as the general standard of living enjoyed by the average citizen. Middle Income Countries are a diverse group by size, population and income level, and are home to 75% of the world’s population and 62% of the world’s poor. Economic Overview Reflecting strong income growth over the past decade, on July 1, 2020 the World Bank announced that Tanzania’s gross national income (GNI) per capita increased from $1,020 in 2018 to $1,080 in 2019, exceeding the threshold for lower-middle income status. Tanzania had planned to gain the middle income status in 2025. Abbasi spoke after the World Bank on Wednesday declared Tanzania a middle income country, a goal that has been achieved five years ahead of the country’s schedule. Tanzania had planned to gain the middle income status in 2025. What are the indicators of lower middle economy in daily lives of Tanzania citizens. In this regard, I congratulate all my compatriots for this historic achievement. DAR ES SALAAM, July 2 (Xinhua) -- The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. The data used by the Development Data Group to calculate GNI per capita is publicly available. Tanzania is the first East African country to ascend to the middle-income status –the World Bank announced on Wednesday, sending Tanzanians into jubilation. John Magufuli, Tanzanian president. “We base this assignment on Gross National Income … The categories are used to show how different groups of countries are doing against measures such as reducing poverty, growth, increasing income … For the current 2016 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,045 or less in 2014; middle-income economies are those with a GNI per capita of more than $1,045 but less than $12,736; high-income economies are those with a GNI per capita of $12,736 or more. "We had envisaged achieving this status by 2025 but with strong determination this has been possible in 2020," Magufuli wrote in the tweet. This site uses cookies to optimize functionality and give you the best possible experience. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. The COVID-19 pandemic presents unprecedented challenges around the globe, and per capita income in many countries will decline in 2020. On July 1, 2020, the World Bank announced that the Tanzanian economy had been upgraded from low to lower-middle income status. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. “Today, the World Bank has declared Tanzania Middle Income Country. Tanzania was categorised a lower middle-income country by the World Bank effective July 1, a development which was notably celebrated by authorities and a cross-section of Tanzanians. Tanzania is the first East African country to ascend to the middle-income status –the World Bank announced on Wednesday sending Tanzanians into jubilation. But this is only part of the picture. In this regard, I congratulate all my compatriots on this historic achievement. 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