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The World Bank upgrades six countries to higher income brackets, with no downgrades in this classification round. The Philippines, Viet Nam, Jordan, Micronesia, and Sri Lanka move from lower-middle to upper-middle income status, while Togo rises from low-income to lower-middle income. Mayotte also advances to high-income status. The Philippines’ upgrade is especially significant because it ends nearly four decades in the lower-middle category. Its GNI per capita reaches $4,850, supported by broad growth across services, agriculture, manufacturing, and other major sectors.
Wednesday, 1 July, 2026