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World Bank Classifies Laos as Lower-Middle-Income Economy for 2020

The World Bank has classified Laos as a lower-middle-income economy in its latest classification for the 2020 fiscal year. The bank classifies the world’s economies into four income groups, namely high, upper-middle, lower-middle, and low, based on Gross National Income (GNI) per capita in U.S. dollars. Lower middle-income economies are those with a GNI per capita between USD 1,026 […]