Recent World Bank data indicates that Libya falls into the upper middle-income bracket, alongside countries like Algeria and Iraq.
The Gulf Cooperation Council (GCC) countries—Saudi Arabia, Oman, the UAE, Kuwait, Qatar, and Bahrain—are classified among high-income nations.
Meanwhile, Tunisia, Morocco, Mauritania, Egypt, Lebanon, Jordan, and Palestine are placed in the lower middle-income bracket. The low-income category includes Sudan, Syria, and Yemen.
A recent World Bank report published on July 1st states that the income bracket for Libya ranges from a per capita gross national income (GNI) of $4,466 to $13,845 for the current year. The report forecasts this range to increase to $4,516 to $14,005 in 2025, which also applies to Algeria and Iraq.
The report highlights that the per capita GNI for high-income countries is $13,845 for this year, expected to rise to $14,000 in 2025.
For the lower middle-income bracket, the per capita GNI ranges between $1,136 and $4,465 for this year and between $1,146 and $4,515 for the following year.
In low-income countries, the per capita GNI is less than $1,135 for this year and $1,145 for 2025.
The new thresholds set by the World Bank report for per capita GNI are based on factors such as economic growth, inflation, exchange rates, and population growth.
