What is needed for a low-income country to develop into a high-income country?

Question

Quizplus · Accepted Answer

Sustained economic growth is necessary for a low-income country to develop into a high-income country. This growth can be achieved through various means, such as investments in infrastructure, education and healthcare systems, and encouraging the growth of industries and businesses. High interest rates and high rates of inflation can actually hinder economic growth, while restrictions on international trade can limit opportunities for growth and development.

What Is Needed for a Low-Income Country to Develop into a High-Income