World Bank promotes Sri Lanka, Vietnam, and Philippines to upper-middle-income status
The World Bank has moved Sri Lanka, Vietnam, and the Philippines into the upper-middle-income bracket. The organization categorizes nations into four distinct groups based on income: high income (₹13,28,144 and above), upper middle (₹4,28,378–₹13,28,144), lower middle (₹1,08,272–₹4,28,377), and low income (₹1,08,176 or less). These classifications are determined by calculating the total earnings of a nation's citizens and companies, then dividing that figure by its population.
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