Venezuela inflation projected to reach 8 million percent in 2019April 19, 2019 - 14:09 AMT PanARMENIAN.Net - Inflation that’s projected to reach an eyeball-popping 8 million percent this year has left Venezuela saddled with the title of the world’s most miserable economy, Bloomberg reports. The embattled South American nation topped the rankings of Bloomberg’s Misery Index, which sums inflation and unemployment outlooks for 62 economies, for the fifth straight year. Venezuela and a handful of others in the “most miserable” camp are in a lonely battle fighting high inflation alongside lofty jobless rates. Most other countries’ policy makers this year face a very different challenge: a tricky combination of quiet inflation and lower unemployment that complicates readings on economic health and appropriate responses. Thailand again claimed the title of the “least miserable” economy, though the government’s unique way of tallying unemployment makes it less noteworthy than Switzerland’s improvement to second-least and Singapore managing to stay in the bottom three. The U.S. moved six spots toward 13th least miserable, and the U.K. improved four spots to 16th least. The Bloomberg Misery Index relies on the age-old concept that low inflation and unemployment generally illustrate how good an economy’s residents should feel. This year’s scores are based on Bloomberg economist surveys, while prior years reflect actual data. Sometimes, of course, a low tally can be misleading in either category: Persistently low prices can be a sign of poor demand, and too-low joblessness shackles workers who want to switch to better jobs, for instance. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. |