World’s Most Miserable Countries As Per Hanke’s Annual Misery Index
The Hanke’s Annual Misery Index (HAMI) for 2022 has revealed the world’s most miserable countries, with Zimbabwe taking the top spot.
The index, developed by economist Steve Hanke, calculates the misery index by considering factors such as year-end unemployment, inflation, bank-lending rates, and the annual change in real GDP per capita.
Apart from Zimbabwe, other countries that ranked among the most miserable include Venezuela, Syria, Lebanon, and Sudan, which took the top five positions.
Inflation was the primary contributing factor to misery in these countries, except for Syria, where unemployment played a significant role.
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Cuba also featured among the most miserable countries, ranking ninth on the list. The country’s disastrous economic policies were cited as the cause of its dire situation.
The tweet by Steve Hanke highlights the economic struggles faced by Cuba due to its communist policies.
India, despite its economic growth, ranked at number 103 on the list. It is noteworthy that Finland, which is considered one of the world’s happiest countries, ranked at 109 on the list, also due to unemployment.
Pakistan, currently facing economic and political crises, ranked at number 35 on the list of most miserable countries, with inflation identified as the primary contributing factor.
Switzerland emerged as the least miserable country, securing the 157th position on the list. Other countries with low levels of misery included Kuwait, Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.
The list underscores the economic and social challenges faced by various countries, shedding light on factors such as inflation, unemployment, and political policies that contribute to the misery experienced by their populations.
Understanding these challenges can aid policymakers and governments in addressing issues and working towards improving the well-being of their citizens.