Nepal’s income status improves to ‘lower-middle’ group: World Bank

Kathmandu, July 3

The World Bank says Nepal has improved its income status into the lower-middle-income group from the lower-income one.

The bank on Wednesday published the updated classification by income level, moving Nepal one step up. As per the report, Nepal’s gross national income (GNI) is USD 1,090. The bank’s category of lower-middle-income status includes the countries with the GNI above USD 1,036 and below USD USD 4,045.

Nepal’s GNI last year was USD 960 only, according to the report.

“It is important to emphasise that the World Bank’s income classifications use the GNI of the previous year (2019 in this case),” the report reads, “Thus, the GNI numbers that are used for this year’s classification do not yet reflect the impact of Covid-19.”

Published on July 3rd, Friday, 2020 10:22 AM

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