GIS – 06 July 2020:Mauritius is classified as a high-income country as of 1 July 2020, following the publication by the World Bank of the updated taxonomy of countries by income groups. The institution classifies the worlds’ economies into four income groups- high, upper-middle, lower-middle, and low. This is based on Gross National Income (GNI) per capita (current US$), calculated using the Atlas method. The classification is updated each year on July 1st based on the previous year’s national account information and using data provided by Statistics Mauritius for 2019.
The Ministry of Finance, Economic Planning and Development welcomes this new step as a result of the confidence and efforts of the Mauritian people to accelerate the socio-economic development of the country.
For his part, Mr Erik von Uexküll, World Bank Country Representative for Mauritius, highlighted that in a longer-term perspective, this is a great achievement that reflects the efforts and dedication of generations of Mauritians to build a better future for their children. He also congratulated the people of Mauritius for reaching this milestone.
It should also be noted that this nomenclature is based on statistical data for 2019. Thus, and as indicated by the World Bank, the impact of Covid-19 has not been taken into account in this exercise. It will be integrated in the 2020 classification.
With a Gross National Income per capita of $12,740 in 2019, up 3.5% from 2018, Mauritius has reached the threshold of high-income economies for the first time in its history. The latter, updated annually by the World Bank, has been set at $12,535 for the year 2019.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: email@example.com Website: http://gis.govmu.org Mobile App: Search Gov