Jordan has experienced a downgrade in its income classification from upper-middle to lower-middle, according to the latest report by the World Bank. The revision of Jordan's income classification was based on a population estimate review, which revealed an 8.6 percent increase in population figures. The downgrade sets the Kingdom apart as the only country globally to witness such a shift in income status.The World Bank's classification system categorizes economies into different income groups, including low, lower-middle, upper-middle, and high, Hala News reported.Income classificationsAccording to the report, a country is classified as having a low income if the per capita national income amounts to $1,135 or less. Meanwhile, a lower-middle-income country falls within the range of $1,136 to $4,465 per capital national income. Moving up the scale, an upper-middle-income country is characterized by a per capita national income between $4,466 and $13,845, while a high-income country exceeds $13,845 per capita national income. (ICE AMMAN)

Fonte notizia: jordan news