World Bank: Iraq moves to the category of “Upper-Middle” income countries

Posted: July 13, 2013 in Iraqi Dinar/Politics
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World trade bankThe World Bank said in its latest report this week that Iraq moved to the upper-middle-income countries, according to the latest classification based on the estimates of per capita gross national income (GNI) in the previous year.

And adopt the World Bank classifications of income by per capita gross national income (GNI) as follows:

Low-income countries: $ 1,035 or less.

Middle-income countries: from $ 1,036 to $ 4,085.

Upper-middle-income countries: $ 4,086 to $ 12.615.

High-income countries: $ 12,616 or more.

According to the report, “a major revision to the data transmitted by Iraq to the upper-middle-income countries”, achieving significant economic improvement compared to many countries in the world.

Changes in classifications

Categories tables include all members of the World Bank, as well as other countries with a population of more than 30,000 people. And the change in the classification of 2013 President is the Russian Federation, who moved to the high-income countries. And became Chile, Lithuania and Uruguay are also high-income countries for the first time (became Latvia from high-income countries in fiscal year 2011, and Antigua and Barbuda in fiscal year 2010), while falling Hungary to middle-income countries after remaining in a high-income countries since fiscal year 2009, while Iraq’s data showed a significant improvement in economic performance and the rate of per capita income.

The following table summarizes the changes in the rankings of countries by income from last year:

Iraq

Lower middle-income countries to upper middle-income countries.

Albania

Lower middle-income countries to upper middle-income countries.

Antigua and Barbuda

Upper middle-income countries to high-income countries.

Chile

Upper middle-income countries to high-income countries.

Hungary

High-income countries to upper-middle-income countries.

Lithuania

Upper middle-income countries to high-income countries.

Mauritania

Low to lower-middle income countries.

Russian Federation

Upper middle-income countries to high-income countries.

Meanwhile, according to a report published by “any mother any Info” on “the essence of Information Middle East business” is expected to “bring the Iraqi banking sector significant growth in assets and profits over the next decade as a result of many factors that come in the forefront of an environment huge economic and powerful, and the proliferation of credit, and the improved security situation in the state. ”

The report issued by the company “Sansar Capital” (Sansar Capital) specializing in asset management in developing countries, “The International Monetary Fund expects total growth in gross domestic product in Iraq, a rate of 9% during the current year, 2013, is expected to keep the banking sector in particular on the level of steady growth over the next few years.

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