\n<\/p>\n
SINGAPORE: On the Hanke\u2019s Annual Misery Index for 2025, which measures the health of the 178 economies, Singapore took the number two spot, just behind Taiwan.<\/p>\n
The index is published each year by Steve Hanke, a professor of applied economics at The Johns Hopkins University, who is also known as the \u201cmoney doctor\u201d for his expertise in using economic data from the Economist Intelligence Unit, International Monetary Fund World Economic Outlook, and other sources, to take the \u201ctemperature\u201d of economies to see how \u201cmiserable\u201d or \u201chealthy\u201d each one is.<\/p>\n
Prof Hanke\u2019s index is based on the sum of an economy\u2019s unemployment rate at the end of the year (multiplied by two), plus inflation and bank-lending rates. From this figure, the annual percentage change in real GDP per capita is deducted.<\/p>\n
Taiwan, which clinched first place for the second year in a row, scored 2.1159, with unemployment as the major contributing factor for its score. Singapore followed with a score of 2.5939, and the lending rate was listed as the city-state\u2019s major contributing factor.<\/p>\n
Another Asian economy, Thailand, came in third (3.1417), followed by Ireland (5.3470) and C\u00f4te d\u2019Ivoire (6.2886).<\/p>\n
Taiwan continues to flourish, and its real GDP growth per capita of 9.2% is what is behind its health. This is driven by the high demand for Taiwan\u2019s semiconductors and artificial intelligence hardware. Meanwhile, it has low unemployment and inflation at 3.3% and 1.3% respectively, with a bank-lending rate at 3.3%.<\/p>\n
As for the runner-up, \u201cSingapore is a perennial contender at the happiest end of the HAMI, and 2025 is no exception. With a score of 2.6, Singapore\u2019s performance reflects near-full employment at 2.0% unemployment, well-anchored inflation at 1.2%, and solid GDP growth of 4.3% per capita,\u201d Prof Hanke wrote.<\/p>\n
World\u2019s most miserable<\/strong><\/p>\n At the bottom three, the most miserable economies are Turkey (100.9610), Sudan (225.3674), and Venezuela (556.4916).<\/p>\n Prof Hanke noted that Venezuela\u2019s score is among the highest ever recorded on the index, and is largely due to \u201can accelerating collapse\u201d brought about by the 2024 elections, which saw Nicol\u00e1s Maduro\u2019s return to power, sanctions that cut off oil revenues, and the free fall of its currencies.\u00a0<\/p>\n Prices in Venezuela rose by a staggering 475.3% in 2025, while unemployment increased to 35.1%.<\/p>\n However, with the forced removal of Mr Maduro on Jan 3, it remains to be seen how Venezuela\u2019s fortunes will change. \/TISG<\/p>\n