Tanzanian head of state, John Magufuli announced on Tuesday that the World Bank has declared his country a Middle-Income Country.
Magufuli congratulated all his compatriots for the historic achievement. He added that the government had envisaged achieving this status by2025 but with strong determination, Tanzania has achieved the middle-income status 5 years earlier in 2020.
Tanzania’s GNI per capita is US$1,080. In July 2019, the Canadian-Rwandan-born Professor David Himbara, wrote that “Tanzania has 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”.
With Tanzania becoming a middle-income country, the East Africa Community now has three middle-income countries and three low-income states.
Kenya, South Sudan, and Tanzania are middle income. Burundi, Rwanda, and Uganda remain low-income.
With a gross national income per capita of US$1,080, Tanzania quietly transformed itself, uplifting many Tanzanians out of poverty by 2020, five years earlier than the government had envisioned.
In the World Bank’s definition, a country becomes a middle-income economy when it crossed the $1,006 GNI per capita threshold.