KATHMANDU: Nepal has graduated from a low-income country to a lower-middle-income country as per the statistics released by the World Bank on Thursday.
The World Bank has placed countries with a per capita income of USD 1,036 to 4,045 in 2019 in the lower-middle-income group. In 2019, Nepal’s per capita income reached 1,090 US dollars, according to the World Bank.
The World Bank has placing countries with a per capita income of less than USD 1,035 in the low-income group.
According to the World Bank, Nepal, Tanzania and Benin have been elevated in this category. Indonesia has become a high-middle income country. Similarly, Mauritius, Nauru and Romania have graduated to high-income countries.
In 2019, the per capita income of the Maldives was USD 9,650. The Maldives is the only upper-middle-income country in South Asia.