The Forbes has ranked 177 countries according to three-year average statistics for gross domestic product growth and inflation (including the IMF’s 2012 estimates), plus GDP per capita and the current account balance, a measure of whether the country is importing more than it exports.
The conclusions are very gloomy for Armenia. “With a 15% contraction in GDP in 2009 and mediocre growth forecast for the next few years, this landlocked former Soviet republic is struggling to keep up with the rest of the world. Per-capita GDP of $3,000 is less than a third of neighboring Turkey, and with inflation running at 7%, Armenia’s citizens are getting poorer. GDP per capita: $2,959 Inflation: 7%.”
Armenia is 2nd worst in the list right after Madagaskar and followed by Guinea. Other former Soviet countries in the top 10 worst are Ukraine and Kyrgyzstan.
The only comforting thing I see, is that one of the main indicators for compiling the list was the unprecedented economic meltdown of 2009. The Armenian economy has greatly improved since than and we will very likely be out of the top 10 worst next year.