THE World Bank has reclassified Zambia to low income status from lower middle income, for the 2023 financial year. The development comes after Zambia’s deterioration of Gross National Income (GNI) per capita estimates recorded in 2021. And government says it has embarked on an economic repair, stabilisation and transformation path that will ensure that the country swiftly regains the lower middle-income status at the next assessment. In a statement, Minister of Finance and National Planning Dr Situmbeko Musokotwane said the new dawn government was keen to reverse the situation. “The deterioration of Gross National Income (GNI) per capita estimates recorded in 2021 – using the World Bank Atlas Method – has resulted in the re-classification of Zambia by the World…...

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