KUCHING: Sarawak has now attained the status of a high-income state in Malaysia, according to World Bank lead economist for Malaysia Dr Apurva Sanghi.
On July 6, Dr Apurva in a tweet said Sarawak has now surpassed the 2022 high-income threshold by exceeding US$13,205 Gross National Income (GNI) per capita.
The data provided also showed that Sarawak is classified in the category of high-income states in the country, alongside Penang and the federal territories of Labuan and Kuala Lumpur. And Malaysia has been an upper-middle income country since the late 1980s.
He also revealed that a total of 83 countries have been recognised as high-income countries, with the addition of Guyana and American Samoa.
The World Bank Group assigns the world’s economies to four income groups – low, lower-middle, upper-middle, and high. The classifications are updated each year on July 1, based on the GNI per capita of the previous calendar year.
