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Zimbabwe 2nd most miserable country in the world
27 Apr 2019 at 09:45hrs | Views
The misery index of 2019 has listed Zimbabwe as the second most miserable country in the world.
Focus Economics reports Zimbabwe comes second after Venezuela.
Justifying putting Zimbabwe on number 2 the compilers said, "In Zimbabwe, unemployment is the main concern with a projected rate of close to 80% for 2019. Much of Zimbabwe's population works in the informal economy which includes people working unpaid for a family business or paid employees who are not entitled to sick leave or paid holidays. These people are not counted as employed."
The blog further says that in the two African giants, Nigeria and South Africa, the unemployment rate contributes most to their Misery Index score. In Nigeria, unemployment has surged to 23.1% in Q3 2018 from 9.0% since 2015. Although inflation has been trending downwards since early 2016, it has remained persistently above the Central Bank's target range of 6.0%–9.0%.
In South Africa, while unemployment is projected to stay near 27% for the next five years, inflation touched a 10-month low in January on slowing fuel costs. FocusEconomics analysts project that inflation will remain within the SARB's target range over the forecast horizon. Moreover, they see inflation averaging 5.0% in 2019 and 5.2% in 2020.
Focus Economics reports Zimbabwe comes second after Venezuela.
Justifying putting Zimbabwe on number 2 the compilers said, "In Zimbabwe, unemployment is the main concern with a projected rate of close to 80% for 2019. Much of Zimbabwe's population works in the informal economy which includes people working unpaid for a family business or paid employees who are not entitled to sick leave or paid holidays. These people are not counted as employed."
The blog further says that in the two African giants, Nigeria and South Africa, the unemployment rate contributes most to their Misery Index score. In Nigeria, unemployment has surged to 23.1% in Q3 2018 from 9.0% since 2015. Although inflation has been trending downwards since early 2016, it has remained persistently above the Central Bank's target range of 6.0%–9.0%.
In South Africa, while unemployment is projected to stay near 27% for the next five years, inflation touched a 10-month low in January on slowing fuel costs. FocusEconomics analysts project that inflation will remain within the SARB's target range over the forecast horizon. Moreover, they see inflation averaging 5.0% in 2019 and 5.2% in 2020.
Source - Byo24News
