Sri Lanka upgraded to upper-middle income economy by World Bank

AI Summary

The World Bank has upgraded Sri Lanka to an upper-middle-income economy, reversing a previous downgrade due to slowed economic growth and decreased income levels. Sri Lanka first attained this status in 2019 but had fallen back to lower-middle-income before the upgrade.

Sri Lanka first entered the upper-middle-income category in 2019 before falling back to lower-middle-income status as economic growth slowed and income levels deteriorated