Russia's economy, boosted by military activity, is now classified as high-income by the World Bank.
The World Bank also upgraded Bulgaria and Palau, while the West Bank and Gaza were downgraded.
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AdvertisementRussia's economy has defied sanctions in the two years since Moscow invaded Ukraine in February 2022 — so much so that the World Bank is now classifying Russia as a "high-income country."
On Monday, the World Bank announced it has upgraded Russia from an upper-middle-income country to a high-income country, according to a report from the financial institution's economists.
Persons:
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Organizations:
World Bank, Bank, West Bank, Service, Business
Locations:
Bulgaria, Palau, Gaza, Moscow, Ukraine, Russia