World Bank releases country income classifications
Seven countries promoted, while Jordan falls a category due to population growth
The World Bank published its country income classifications for 2023–24 on June 30.
It sorts more than 210 countries and territories into four income classes: low, lower-middle, upper-middle and high, defined by gross national income per capita. The new classification changed the categories for a small number of few states and territories.
The boundaries for each tranche were increased by somewhat less than 5% to account for inflation. The upper boundary of the low income category increased
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