World Bank Updates Income Classifications, Promotes Six Economies to Higher Income Groups
The World Bank has released its latest annual income classifications, categorizing 218 global economies into four income groups based on gross national income (GNI) per capita. This classification uses the World Bank's Atlas methodology, which adjusts for inflation and incorporates the latest estimates for economic output, exchange rates, and population. For the fiscal year 2027, six economies have been promoted to higher income groups. Jordan, Micronesia, the Philippines, Sri Lanka, and Vietnam have moved from lower-middle to upper-middle income status, while Togo has advanced from low income to lower-middle income. These changes reflect a combination of sustained economic growth, post-pandemic recoveries, statistical revisions, and updated population estimates. 
