Topic updates
New World Bank country classifications by income level are published
10th August 2022
Lebanon, an upper-middle-income country for almost 25 years, now moves to the lower-middle income group according to the World Bank's latest classification.
Per capita income in Lebanon has fallen in each of the last eleven years and their economy has also experienced a significant depreciation against the US dollar. This means that Lebanon drops down a dollar-denominated ranking of countries according to GDP per capita.
You can find the World Bank's latest adjustments here.
Romania and Panama are now classified as high income countries. Venezuela, classified as an upper-middle income country until 2021, has been unclassified since then due to the unavailability of data.
📰 Just released!
— World Bank Data (@worldbankdata) July 3, 2022
New World Bank country classifications by income level: 2022-2023
Find out which countries moved, as well as how the @WorldBank classifies countries, in this new blog:https://t.co/o8a5AuLD3f
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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