Guinea changes its status with the World Bank. According to new data from this Bretton Wood institution, published on July 1, 2023, the country is moving from low-income countries to lower-middle income countries

Guinea's per capita income rose from USD 1010 (2021 ranking) to 1 1 80 USD (new 2022 ranking), according to a note by a World Bank executive consulted by Africaguinee.com. Guinea is one of the two African countries that are changing their income status in this new ranking, says Abdoul Salam Bello, World Bank Africa II Group Administrator

Indeed, on July 1 of each year, the World Bank Group updates its country classification according to Gross National Income (GNI) per capita. This classification is based on the GNI per capita of the previous year (2021 in this case) in current dollars, using the so-called “Atlas” method for smoothing out exchange rate fluctuations. According to the World Bank, this increase in income is the result of the country's economic performance in recent years.