• 3 July, 2020 2:56 pm

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World Bank upgrades Nepal to lower middle income country from lower-income country

Nepal has been ascended from a lower-income country to a lower-middle-income country.

According to data released by the World Bank, Nepal has been upgraded to a lower middle income country for the first time in its history. The highest per capita income country in South Asia is Maldives.

The World Bank has placed countries, with per capita income of $1,036 to 4,045, in the lower middle income group in 2019.

In 2019, Nepal’s per capita income has reached 1,090 US dollars, according to the World Bank.
In 2019, the per capita income of Maldives is 9,650 US dollars.
Now, Maldives is the only upper middle income country and Afghanistan is the only low-income country in South Asian nations. Its per capita income is only $540, according to the World Bank. The World Bank has classified countries into four income categories: upper, upper middle, lower middle and lower. Countries with a per capita income of up to $ 1,035 fall into the lower income group.

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