Economics
Indonesia Loses Upper-Middle Income Status Amid Pandemic
- Indonesia gained upper-middle income status only in July 2020
- Government expects to regain the status by end of this year
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Indonesia has lost its prized upper middle-income status after only a year, as Southeast Asia’s largest coronavirus outbreak reverses gains in poverty and employment.
The World Bank downgraded Indonesia to lower-middle income status as of July 1, with a gross national income per capita of $3,870. The country had graduated to upper-middle income status last year with a GNI per capita of $4,050, its first time in that band since rankings going back to 1988.