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Romania is heading in the wrong direction, as shown by Bloomberg Misery Index

Romania has climbed 16 positions in the Bloomberg top of the world’s “most miserable economies”. Bloomberg Misery Index places Romania in 2017 on the 34th place in the ranking and warns that the country is heading in the wrong direction, digi24.ro informs.

Bloomberg points out that the economists see a 3.3 percent inflation rate for 2018, after much more subdued price growth last year, pushing its misery down 16 notches. The National Bank of Romania is chasing inflation with interest rate-hikes, aiming to stay ahead of any overheating, while growth surges  on ballooning government spending.

Venezuela marks its fourth year as the world’s most miserable economy, with a score that’s three times what it was 2017.

At the other end of the spectrum, Mexico makes the biggest progress this year, moving 16 notches toward ”least miserable” as economists remain optimistic that the central bank will be able to tame last year’s bout of high inflation, bringing it to an average 4.1 percent this year after 6 percent in 2017.

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.

About Anca Bernovici