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Tanzania’s President Celebrates World Bank’s Declaration.

By Sarah Mazirwe – Kampala, Uganda, Thursday, July 2, 2020

Dr. John Magufuli – President of Tanzania.

The President of Tanzania, Dr. John Pombe Magufuli has expressed delight at a World Bank declaration, placing the East African country among middle income countries.

The World Bank on Wednesday July 1, 2020 declared Tazania, a middle income country, Magufuli confirmed on Twitter and called it a “Historic Achievement.” 

Tanzania had envisaged to achieve the middle income status by 2025, but, with strong determination, it has been achieved in 2020, the President’s statement adds.

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The statement also congratulated Tanzanians. “Today, the World Bank has declared Tanzania Middle Income Country. In this regard, I congratulate all my compatriots for this historic achievement,” Magufuli said in a tweet, late Wednesday.

The world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. They are furthered classified as lower and upper middle-income economies.

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Lower middle-income economies are those with a GNI per capita between $1,006 and $3,955; and upper middle-income economies – those with a GNI per capita between $3,956 and $12,235.

Tanzania has achieved economic growth over the last decade, averaging 6–7% a year. While the poverty rate in the country has declined, The country’s overall population is about 55 million (2016).

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