THESE are the world’s most miserable countries (some may surprise you)

There is a wide spectrum of the human experience between "miserable" and "happy."From unemployment to high inflation, the economic realm has seen a lot of pain in recent years.According to an annual misery index that judges nations on mainly economic conditions, Zimbabwe is the most miserable country in the world.Professor of Applied Economics at John Hopkins University Steve Hanke created the Annual Misery Index. The indexes are the product of the unemployment rate (multiplied by two), the inflation rate, and the bank lending rate, less the yearly percentage change in real GDP per capita.Let’s take a closer look at the world’s most miserable countries.Also read: Cutting Costs: How rising inflation is threatening Egypt's age-old traditionsWorld’s most miserable countriesZimbabwe, an African country with a population of over 16 million, has now been listed as one of the five most miserable countries for three years running.Zimbabwe under Robert Mugabe's cruel dictatorship became an international pariah, engulfed in corruption, violence, and an economic disaster that drove tens of thousands into utter misery.Despite the late ex-President's removal from office in 2017, the mineral-rich nation is still dealing with the economic effects of his 37-year rule.Hanke has been keeping an eye on Zimbabwe for more than 20 years, ever since Robert Mugabe became president and inflation shot through the roof in 2008, according to National Review.In contrast to Mthuli Ncube, Zimbabwe's finance minister, who recently forecasted six per cent economic growth, he forecast only 0.9 per cent growth."Its (Zimbabwe's) policies have resulted in massive misery," Hanke said, adding, "For example, Zimbabwe has suffered endemic inflation since the Mugabe era, including two episodes of hyperinflation, in which the inflation rate exceeded 50 per cent per month for 30 or more days. Last year didn’t deliver much better, with annual inflation at 243.8 per cent, and lending rates following suit at 131.8 per cent.”Elections in Zimbabwe are scheduled, most likely for August.Venezuela, which has likewise suffered from "economic mismanagement," and Syria, which has been engulfed in a horrifying civil war for more than ten years, were the two countries that lagged behind Zimbabwe in Hanke's Annual Misery Index.Lebanon came in at number four as of late 2019 due to its worst economic crisis in modern history, which has its roots in years of mismanagement and corruption by the political class that has dominated the nation since the end of the 1975–1990 civil war.Sudan, the fifth miserable nation, has been engulfed in political uncertainty ever since a coup overthrew a power-sharing administration that had been arranged by the West in October 2021.[caption id="attachment_12641262" align="alignnone" width="640"]

Hanke Annual Misery Index (HAMI) judges 160 nations on mainly economic conditions. Graphic: Pranay Bhardwaj[/caption]Ukraine, currently defending its land in a bloody war started by Vladimir Putin's invading Russian forces, ranked eighth on the misery list, with unemployment being the major reason. According to local media, the war caused the unemployment rate to skyrocket to 35 per cent, or 5.2 million unemployed individuals. The amount is based on a report from the National Bank of Ukraine.Cuba, which ranked last year's worst country, is now in ninth place, just below Ukraine. Cuba had skyrocketing inflation in 2021, which was fueled by the value of its currency, the peso, falling 95 per cent that year alone.Argentina came in sixth place for gloomiest. The country is also dealing with a crisis related to the cost of living, with inflation rising beyond 100 per cent in February for the first time since the 1990s. As a result, many people are poor. In only four weeks last summer, the nation had three different economy ministers, prompting widespread protests.India stood at 103 due to the country's high unemployment rate, which the Modi administration has struggled to reduce and is now under pressure to do so as it prepares for a general election in 2024.The UK dropped from 153rd to 129th this year, which is worse than last. The inflation rate, which was 10.1 per cent in March, is the main influencing factor.The US, meanwhile, progressed in the opposite direction, falling from 102nd to 134th. The major influencing factor was unemployment, which was at its lowest level in decades in April with only 3.4 per cent of Americans (5.7 million) unemployed, according to Dailymail.Switzerland is, unsurprisingly, at the bottom of the list of miseries.According to the most recent UN Human Development Index, the central European nation is among the richest in the world and among the best for life expectancy, time spent in education, and average earnings.The nations of Kuwait, Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta are listed after the European nation at the bottom of the league.Also read: How useful is your degree? Why Indian graduates remain unemployedRising Inflation and unemployment a major concernPersistently high inflation remains the biggest economic concern this year even as most central banks are at or near the end-game for rate rises, according to Reuters polls of economists who also upgraded their 2023 growth forecasts from three months ago.With the global economy performing better than expected so far this year, most major economies were forecast to escape an outright recession or get away with a shallow one, suggesting that policymakers have their work cut out in taming inflation.Additionally, a key economic strength metric that is constantly monitored by policymakers and economists is unemployment.This development can create inflation as employers raise wages to entice and keep workers in times of strong economic growth and low unemployment. Conversely, when unemployment is high, firms frequently cut expenses and eliminate positions, which can increase deflationary pressure by leading to lower prices and salaries.Forbes reports that in April 2020, at the height of the Covid-19 economic crisis, unemployment rates increased by 14.7 per cent. However, the unemployment rate is 3.5 per cent as of July 2022, which is the lowest level since February 2020.With inputs from agenciesRead all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.