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 | Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. Azerbaijan razes historic Armenian church to ground Azerbaijan has demolished the historic Armenian Church of St. John the Baptist (known as Kanach Zham). Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills |