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Photos of recent events: World’s most miserable countries

Professor Steve Hanke of John Hopkins University in the United States has compiled an annual ranking of the world's weakest economies based on the so-called misery index. He combined inflation, unemployment, and the current interest rate to determine the level of poverty in a country. Let us have a look at the 5 most miserable countries in the world.

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15:26 2023-06-07 263 5

15:26 2023-06-07 1st place – ZimbabweZimbabwe has been plagued by hyperinflation since the times of Robert Mugabe, who came to power in the early 1980s. Since then, the South African country has experienced two bouts of hyperinflation. Last year, annual inflation in Zimbabwe hit 243.8% with interest rates standing at 131.8%. Due to this dire economic situation, Zimbabwe topped the list of the most impoverished countries in the world last year. Its misery index exceeded 400 points.

1st place – Zimbabwe
Zimbabwe has been plagued by hyperinflation since the times of Robert Mugabe, who came to power in the early 1980s. Since then, the South African country has experienced two bouts of hyperinflation. Last year, annual inflation in Zimbabwe hit 243.8% with interest rates standing at 131.8%. Due to this dire economic situation, Zimbabwe topped the list of the most impoverished countries in the world last year. Its misery index exceeded 400 points.

15:26 2023-06-07 2nd place – VenezuelaMarch 2023 was the tenth anniversary of President Nicolas Maduro assuming power in Venezuela. His rule saw Venezuela experiencing two periods of hyperinflation, with prices rising by 267% in 2022 alone. At the same time, the country’s unemployment rate stood at 33.5%. Venezuela is experiencing a severe economic crisis, and its misery index is currently estimated at 330 points. As a result, many residents have emigrated in search of a better life. Since 2015, more than 7 million people have left Venezuela.

2nd place – Venezuela
March 2023 was the tenth anniversary of President Nicolas Maduro assuming power in Venezuela. His rule saw Venezuela experiencing two periods of hyperinflation, with prices rising by 267% in 2022 alone. At the same time, the country’s unemployment rate stood at 33.5%. Venezuela is experiencing a severe economic crisis, and its misery index is currently estimated at 330 points. As a result, many residents have emigrated in search of a better life. Since 2015, more than 7 million people have left Venezuela.

15:26 2023-06-07 3rd place – SyriaSyria is the third most miserable country in the world. More than 12 years of civil war have severely degraded the country’s economy and living standards. Inflation in Syria stood at 95% in 2022, and the unemployment rate was at a staggering 57%. Due to these factors, the country’s misery index is estimated at 225 points.

3rd place – Syria
Syria is the third most miserable country in the world. More than 12 years of civil war have severely degraded the country’s economy and living standards. Inflation in Syria stood at 95% in 2022, and the unemployment rate was at a staggering 57%. Due to these factors, the country’s misery index is estimated at 225 points.

15:26 2023-06-07 4th place – LebanonOnce called the Switzerland of the East, Lebanon is now in dire straits, struggling with the worst economic crisis in 170 years. With inflation skyrocketing by 162% in 2022 and an unemployment rate of more than 12%, the Middle Eastern country has fallen to the level of the world’s least developed states. As a result, its misery index stands at 190 points.

4th place – Lebanon
Once called the Switzerland of the East, Lebanon is now in dire straits, struggling with the worst economic crisis in 170 years. With inflation skyrocketing by 162% in 2022 and an unemployment rate of more than 12%, the Middle Eastern country has fallen to the level of the world’s least developed states. As a result, its misery index stands at 190 points.

15:26 2023-06-07 5th place – SudanThe economy of this African country has been severely weakened by years of armed conflict. Inflation has remained extremely high, despite signs of easing inflationary pressure. Sudan’s consumer price index jumped by more than 60% in 2022, and its interest rates exceeded 27%, putting the country on the list of the world’s most miserable countries. The misery index of Sudan is estimated at 176 points.

5th place – Sudan
The economy of this African country has been severely weakened by years of armed conflict. Inflation has remained extremely high, despite signs of easing inflationary pressure. Sudan’s consumer price index jumped by more than 60% in 2022, and its interest rates exceeded 27%, putting the country on the list of the world’s most miserable countries. The misery index of Sudan is estimated at 176 points.

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