04
Aug
Tio Nakasole Every year, the World Bank Group classifies the world’s economies into four income groups: low, low-middle, upper-middle, and high. These classifications get updated each year on 1 July, based on the previous year’s Gross National Income (GNI) per capita, expressed in U.S. dollars using the Atlas method. Based on the generous numerical definition of the World Bank's 2024 gross national income (GNI) per capita, economies are divided differently among income groups. Using the World Bank Atlas method, income calculated per annum is low income, $1,145 or less; lower middle income, $1,146 to $4,515; upper middle income, $4,516 to…
