Skip to main content

Breaking: Nigeria becomes no.6 most miserable countries in the world



The recently published report by Steve Hanke, an economist from John Hopkins University in Baltimore, United state, listed Nigeria, Venezuela, Iran, Brazil, others among the first ten (10) miserable countries in the world.
According to the report Venezuela was listed as the most miserable country in the world.  Reacting to this Hanke said, “Venezuela holds the inglorious title of the most miserable country in the world in 2018, as it did in 2017, 2016, and 2015.”

However, Argentina jumped to the No. 2 spot after yet another peso crisis. Since its founding, Argentina has been burdened with numerous economic crises. Most can be laid at the feet of domestic mismanagement and currency problems (read: currency collapses).
Iran took third in the ranking, before Brazil that made it to the fourth position. Turkey took the fifth position as the giant of Africa Nigeria emerged sixth.
The Misery Index was calculated using economic indices including unemployment, inflation and bank lending rates.
For Nigeria, unemployment rate was the major contributing factor to its miserable state.
According to Hanke, “The first Misery Index was constructed by economist Art Okun in the 1960s as a way to provide President Lyndon Johnson with an easily digestible snapshot of the economy. That original Misery Index was just a simple sum of a nation’s annual inflation rate and its unemployment rate. The Index has been modified several times, first by Robert Barro of Harvard and then by myself.

“My modified Misery Index is the sum of the unemployment, inflation and bank lending rates, minus the percentage change in real GDP per capita. Higher readings on the first three elements are “bad” and make people more miserable. These are offset by a “good” (GDP per capita growth), which is subtracted from the sum of the “bads.” A higher Misery Index score reflects a higher level of “misery,” and it’s a simple enough metric that a busy president, without time for extensive economic briefings, can understand at a glance.
“The accompanying table contains Misery Index rankings for the 95 nations that report relevant data on a timely basis. For consistency and comparability, and with few exceptions, data were retrieved from the Economist Intelligence Unit.”


Source/reference: Vanguardngr.com, Nwafor Sunday.

Comments

Popular posts from this blog

cold morning but wonderful morning,well is another day and another daily sun again please do well to visite daily sun more often

OLX   |   PROPERTY24   |   CAREERS24   |   SUPERBALIST   |   LEISUREBOOKS   |   AUTOTRADER   |     Trending News: # SUNDEFENDER # Lotto Menu Search Press Code Advertising Terms ...

IG lady begs Kiss Daniel for sex, and it is disturbing. "I even have your tattoo on my back", says the lady.(video)

It looks like these ladies are not giving up any moment sooner to when it comes to publicly expressing their feelings to celebrities online. This last one that recently happen was to Wizkid, where the supposed lady kept begging and describing her selling parts to the star, although what happened then as not been unraveled. Here comes another open extrovert lady begging sex Kiss Daniel, and publicly telling the online world to repost her video until it reaches the domain of the star act. According to the lady, she is just interested in having sexual intercourse with the musical star, and not to stress him forth from any relationship or intimate affair, even if the meeting will just be a one night stand. The lady aslo revealed that she has always had a crush on the singer, with this she made a tattoo of his name on his back, that she has been carrying for quite while now. How appropriate is this trending act now? Instead of guys going for the ladies, it is now happening...

now lets talk about the top 10 albums of the year 2019

 (1)  BURNA BOY Afracan Giant (2)  DAVIDO A Good Time (3)  FALZ Moral Instruction (4) PATORANKING Wilmer (5)  YEMI ALADE Woman Of Steal (6)  FIRE BOY DML     laughter,Tears and Goosebumps (7)  SIMI SOLA Omo Charlie Champagne (8)  ZLANTAN IBELE Zanku (9)  YCEE Ycee Vs Zaheer (10) PHYNO Deal With It what do you think good vibes?,good sound?