10 Worst Economies in the World

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10 Worst Economies in the World - Forbes magazine has to understand that the economies of developing countries has shown the worst. The top ten losers are Ukraine, Armenia, Kyrgyzstan and some other countries

10 Worst Economies in the World

10 worst economies in the world
Forbes magazine has to understand that the economies of developing countries has shown the worst. The top ten losers are Ukraine, Armenia, Kyrgyzstan

$ 448. From 1970 to 2009, GDP per capita in Madagascar (adjusted for inflation) has tripled, reaching, according to the UN, "colossal" $ 448. During the same period, GDP per capita grew near the South Africa of more than 7 times - up to $ 5700.

A series of military coups, poor economic policies and the continued growth of the population of Madagascar has left in ruins, while in other developing countries - South Africa, India and Brazil - at first. It is because of these problems has led Madagascar artificial human Forbes worst economies in the world rankings in 2011. Of course there are hopeless cases, like Somalia. But among the countries for which the IMF has a relatively complete data set, Madagascar, due to the natural diversity sometimes the "eighth continent" called, is a poor political leadership, corruption, poverty and lack of growth

Compared to last year's list of great change. Once an outsider, such as Ghana and Zimbabwe have improved their economic legislation and leave the list, while Armenia and Jamaica were in the lower ranks of the financial crisis. Other countries such as Madagascar and Nicaragua, have earned their positions because of inability to comply with their governments.

Transparency International, do not be surprised that there are 8 of the 10 countries with the worst economies in the world at the bottom of the Index of Corruption Perception Transparency International, Guinea, Kyrgyzstan and Venezuela are at the bottom of the list. Transparency International - "Corruption in economic development - said the head of international research projects Hodess Transparency Robin - are all indicators that reflect human development concerns the governments do not work, the economy is not growing.".

To compile the annual ranking of the worst economies in the world by Forbes magazine estimated in 177 countries, the statistical average of 3 years: GDP growth, inflation (including the IMF, 2012), GDP per capita and the balance current, which shows whether a country imports more than it exports.

Madagascar

GDP per capita: $ 387

Inflation: 8.5%

Madagascar's poor economic performance reflects the internal political turmoil. After gaining independence from France in 1960, the country experienced a brief heyday. However, GDP per capita in the world with people from the 70's, when the population began to grow faster than the economy.

In the last two years, the sale price of rice has doubled in Madagascar. And before the country has lost thousands of jobs in the textile industry, once in 2009 there was a military coup and the United States withdrew from the Madagascar of the law on economic growth and business opportunities in Africa and offers privileged access to their markets. According to the U.S. State Department, now reduced to sharing a large part of the economy. And while the political situation does not improve, it is expected that FDI inflows into the island.

Armenia

GDP per capita: $ 2,959

Inflation rate: 7%

Armenia's economy, which consists of mostly immigrant diaspora in 2009 by 15%. Projections for the future is not too optimistic for the small republic, totally dependent on Russia and Iran by the energy. GDP per capita is three times lower than that of Turkey, while inflation reached 7%. As if this were not enough to damage the Russian cut diamond exports, once a thriving industry in Armenia.

Guinea

GDP per capita: $ 440

17% Inflation: 17%

The West African country has half the bauxite reserves of the world population are available, but not to attract investors. According to the economic development of the U. S. Department of State by poor roads, a recent study (2008) and a military coup, was forced to "government hostility to investors." Alpha Conde, the 2010 presidential election, appears to reduce anxiety and begin to Abu Dhabi in relation to the proposed BHP Billiton Aluminium Guinea 5 million.

Ukraine

GDP per capita: $ 3,483

10% Inflation: 10%

It is a country rich in land and resources, and could, in the leading group in the European continent, but in reality behind income countries such as Serbia and Bulgaria. The reason, according to U. S. State Department, the complex laws, poor corporate governance, poor protection of contracts and, above all, corruption.

Jamaica

GDP per capita: $ 5,473

Inflation rate: 7%

The poverty rate has declined in recent years, almost twice - up to 10% and the literacy rate has increased to 88%. But the crisis has been hard hit in Jamaica two years of decline in GDP of 4% in 2015 promises to increase only 3%. High inflation and the constant deficit in the current account does not improve quickly suspected the quality of life of the island.

Venezuela

GDP per capita: $ 9,886

32% Inflation: 32%

Serious illness of the dictator Hugo Chavez may cause the liberation of the country, shame it manages to keep people in poverty, despite countless natural treasures. The only indicator of a healthy economy in Venezuela - a surplus on current account. But inflation in the GDP growth of 32% and the absence of mismanagement of Hugo Chavez.

Kyrgyzstan

GDP per capita: $ 943

Inflation rate: 12.6%

Transparency International - The Republic of Central Asia, has won 164 seats out of 178 countries in Transparency International's Corruption Perceptions Index of Transparency International rating, and suffer from an unemployment rate of 11%. Rich in natural resources (except oil and gas to be imported) Kyrgyzstan faces challenges in attracting foreign capital in mining and metallurgy projects, since "local conditions are very difficult for most companies ".

Swaziland

GDP per capita: $ 3,109

Inflation: 7.3%

Due to rapid population growth and lack of employment, poverty in the African country in more than 60% stake, despite the rich agricultural land, the export of sugar and an active tourism industry. More than 30,000 people in Swaziland (Swaziland's currency is related) in the garment industry, the work has contributed to the protectionist tariff policy, the United States, while the global financial crisis and growth in non-South African rand detract from the request.

Nicaragua

GDP per capita: $ 1,197

Inflation rate: 9%

In a socialist dictator, Daniel Ortega was a lot of time to make the country a haven for older workers. However, GDP per capita three times less than in neighboring countries of El Salvador, Nicaragua, and suggests that Ortega is not a person employable. Second, the poorest countries in the Western Hemisphere after Haiti, Nicaragua is actively prevents foreign investment and citizens suffer from power cuts, water shortages and high energy costs disproportionately hurt poor people. Nearly half of Nicaraguans live below the poverty line, the World Bank.

Iran

GDP per capita: $ 5,493

Inflation rate: 15%

Iran holds 10% of world oil reserves are identified, after the U. Management S. Energy Information Administration. But the country's economy, the limited internal control over important sectors of the industry, the development of international sanctions and the lack of leadership at a rate of less than one third of the world average. In terms of GDP per capita ($ 5493), Iran is much closer to Iraq, the war-torn oil-rich Saudi Arabia and Kuwait.

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author avatar Denise O
12th Jul 2011 (#)

Good information on the ten worst economies. Thank you for sharing.:)

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