The 22 Most Miserable Countries in the World, Egypt Ranks Sixth

Big 5

According to a analysis published by Washington DC-based Cato Institute, Venezuela holds the disreputable top spot as the most miserable nation in the world; whereas Egypt ranked 6th. 

The 90 countries listed in the misery index were selected based on data from the Economist Intelligence Unit and calculations from Steve Hanke, a professor of Applied Economics at Johns Hopkins University.

The formula used to compile the list involves inflation, lending rates, and unemployment rates minus year-on-year per capita GDP growth.

Venezuela’s much higher misery score of 79.4 is much higher than every other country except Iran (61.6), and the top 22 countries are above 25 on the index.

Inflation is the major contributing factor plaguing three of the top four nations listed. The other countries are either hampered by high unemployment or interest rates.

Here is the top 28 (and here’s the full study):

2013 Misery Index Scores-Global

Rank

(Worst to Best)

Country

Misery Index

Major Contributing Factor

1

Venezuela

79.4

Inflation

2

Iran

61.6

Inflation

3

Serbia

44.8

Unemployment

4

Argentina

43.1

Inflation

5

Jamaica

42.3

Interest Rate

6

Egypt

38.1

Unemployment

7

Spain

37.6

Unemployment

8

South Africa

37.4

Unemployment

9

Brazil

37.3

Interest Rate

10

Greece

36.4

Unemployment

11

Macedonia

35.7

Unemployment

12

Palestinian Territory

32.9

Unemployment

13

Turkey

32.7

Interest Rate

14

Cyprus

30.7

Unemployment

15

Croatia

30.5

Unemployment

16

Dominican Republic

29.8

Unemployment

17

Georgia

27.7

Unemployment

18

Nicaragua

27.0

Interest Rate

19

Honduras

26.8

Interest Rate

20

Costa Rica

25.6

Interest Rate

21

India

25.6

Interest Rate

22

Jordan

25.3

Unemployment

23

Ukraine

24.4

Interest Rate

24

Peru

23.9

Interest Rate

25

Uruguay

23.8

Interest Rate

26

Portugal

23.5

Unemployment

27

Barbados

22.9

Unemployment

28

Pakistan

21.9

Interest Rate

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