Bloomberg’s misery index: Serbia ranks 8th

Bloomberg has released its annual list of the most miserable economies in 2017 with Serbia ranking 8th.  The “misery” calculations are based on inflation and unemployment perspectives.

In its report, Bloomberg says that last year was the year of political shocks, and that this year will actually show how much did these political shocks affect the global economy.

Venezuela tops the list for the third year in a row where both financial and political problems are forcing the country into the worse conditions ever. In contrast, the country with the lowest index is Thailand, but this is mainly due to the way authorities there calculate the unemployment rate, notes the report.

According to the misery index, Serbia ranks 8th while Croatia is in the 12th place which is one place down from 2016, when it ranked 11th.

The country that deteriorated the most according to the misery index is Poland, which jumped from the 45th place to the 28th. Similar situation is in Romania, Estonia, Latvia and Slovakia.

The misery index is even more pronounced in Mexico this year which jumped from 38th to 31st place, while Great Britain has also regressed in its rankings, mainly due to Brexit.

On the other hand, Norway, Peru and China all recorded progress despite the drop in the global prices of raw materials and oil that have a huge bearing on economy. Norway fell by 18th places which is by far the best result of all countries on the list.

These are the countries with most miserable economies in 2017:

1. Venezuela
2. South Africa
3. Argentina
4. Greece
5. Turkey
6. Spain
7. Ukraine
8. Serbia
9. Brazil
10. Uruguay
11. Colombia
12. Croatia
13. Italy

These are the countries with the best economies in 2017:

1. Thailand
2. Singapore
3. Switzerland
4. Japan
5. Island
6. Taiwan
7. Denmark
8. Israel
9. South Korea
10. Hong Kong
11. Malaysia
12. Vietnam

(Newsweek, 08.03.2017)

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