According to the analysis of “Cato Institute”, Venezuela is the poorest country in the world, and Macedonia is the 12th, reports “Business Insider”.
According to the Poverty Index, the institute ranked 108 countries in the world, based on data for inflation, unemployment and interest rates in the country. The index is obtained when you collect the first three items and deduct the annual GDP growth.
After Venezuela, Argentina is second poorest, Syria is third, Ukraine fourth, while Iran is fifth.
Over the past year, Venezuela’s poverty index increased by 27 points to 106.03, with which the South American country has more than 40 points in comparison to Argentina.
Unemployment and interest rates are one of the leading factors that put these countries on the misery list.
The Five least miserable countries are Brunei, Switzerland, China, Taiwan and Japan, and United States is on the 95th position. Venezuela claimed the top spot last year as well, followed by Iran, Serbia, Argentina, and Jamaica.
