The 10 worst economies in the world
Many of us complain that Poland is not an ideal place to live. Yes, it is not - but also thinking in Polish, there are those who are worse off than us. And surprisingly, there are quite a lot of them. Inflation and unemployment have practically killed their economies and will keep picking up for years. Here are the 10 worst economies to live in in 2015.
The worst economies in the world: Venezuela
The inflation that this country is struggling with is a phenomenon on a global scale. Economists forecast that prices will continue to rise at an alarming pace - 78.5%. The country is struggling with extreme poverty, and its inhabitants lack basic necessities to live on. It's so bad that neighboring countries are sending toilet paper to Venezuela in exchange for oil.
Worst economies in the world: Argentina
Even 60 years ago, Argentina was one of the richest countries in the world. Last year, it went bankrupt for the third time in 30 years. The problems are so serious that the country's authorities have kept currency exchange to a minimum in order to keep its own reserves. Imports of goods were also significantly reduced, which made it impossible to buy even tampons in Argentina for a long time.
The worst economies in the world: South Africa
Despite the fact that South Africa is one of the richest countries in Africa, it was ranked third with the worst economy to live in. Why? The most serious problem of South Africa is social stratification, numerous protests, strikes and fights. These moods result mainly from the terrible economic condition of the country - thus the circle is closed. South Africa has the lowest economic growth of any country in Africa and over 65% of young people are unemployed.
The worst economies in the world: Ukraine
The war in Ukraine significantly damaged its economy. As a result, unemployment and inflation are growing at an alarming rate there. Analysts forecast per capita GDP at $ 8,494, unemployment to rise to 9%, and inflation to hit 17%. Nevertheless, Ukraine improved its last year's result, ranking it second in the worst economies.
Worst economies in the world: Greece
The financial problem of Greece is practically the whole of Europe, and the country itself is increasingly indebted. Greece's biggest problem is unemployment, which is almost 26%, and almost half of the unemployed are young people.
Worst economies in the world: Spain
Spain is the second country after Greece with the highest unemployment in Europe. Despite the fact that unemployment in this country is falling every year, this year it is still almost 24%! For comparison, the average unemployment in the Member States is around 9%.
The worst economies in the world: Russia
Economic sanctions and the drastic collapse of the ruble exchange rate led Russia to the brink of economic crisis. Food prices have increased by up to 150%, and the Bank of Russia announces that this is just the beginning. The peak of inflation is expected in the second quarter of this year.
The worst economies in the world: Turkey
The stagnation of the economy has hurt Turkey a lot. This goes hand in hand with unemployment of over 10%. Unfortunately, analysts do not predict an improvement in the economic situation in Turkey in the near future. They predict that economic growth will remain at a low level of 3%.
Worst economies in the world: Portugal
Portugal has been tightening its belt for several years, yet it cannot overcome the crisis. Unemployment in this country is over 13% and, as in most cases, it largely affects young Portuguese. Portuguese trade unions, however, say the real unemployment rate is 25%. Again, those who have jobs complain of low wages.
Worst economies in the world: Italy
It's not good in Italy either. As you can read in the "My Italy" report, every fourth family in this country has serious financial problems. Young people were hit hardest by unemployment, reaching almost 13%.
The following places were taken by: Colombia, Brazil, Slovakia and Indonesia. In all these countries, the unemployment rate does not fall below 10%.