The 10 countries with the most Economy Slumped in the world
22 June 2015, 17:36
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There are a number of countries that rose quickly after wracked by the global financial crisis. However, several other countries instead, i.e. makin slumped.
World Bank Chief Economist Kaushik Basu said, the recovery stalled in high-income countries and even some middle-income countries. This may be a symptom of a deeper structural malaise.
"What's important is for countries take fiscal and structural reforms, which may increase the long-term growth and inclusive development," said Kaushik, offered from pages of Business Insider, Friday (19/6/2015).
Following this, the 10 countries with the level of the slowest economy projected annual growth ranging from 2014 to 2017 based on estimates from the World Bank's Global Economic Prospects.
1. Ukraine
Economy Ukraine stressed during the financial crisis, though it eventually strengthened in 2010. But the loss came back after Russia annexed Crimea. The country's GDP dropped 6.8 percent in 2014.
The slowness of the economy in Ukraine also happens to the existence of political corruption and reform of the inefficient continue to stifle the country move forward. As for the pace of Ukraine'S GDP decline this year, 7.50 percent.
2. Venezuela
Venezuela's economy is heavily dependent on oil, accounts for roughly 96 percent of export earnings or roughly 12 percent of GDP. Therefore, anjloknya oil prices become the decisive blow for Venezuela. As a result, the country's economic growth down to 5.10 percent.
In addition, government spending, minimum wage increases, and increased access to domestic credit creates increased consumption combined with the problem of supply that causes higher inflation of roughly 20 percent in 2012 and increase to more than 56 percent in 2013 and 60 percent in 2014.
3. Libya
Do not vary much from Venezuela, the country also relies on revenue from the energy sector or the oil. However, the Government of Libya fails to invest the revenues in a way that developed economies. In fact, Libya's economy has been very stable since the revolution.
Libya'S GDP fall in 2014, down by 24 percent, after a massive protest in the port of disruptions of oil Libya and across the country. This year, a growth of Libya is estimated to only grow up 0.50 percent.
4. The Republic of Belarus
The economy in Belarus is very tereintegrasi with Russia, so that when the economy experienced a weakening of Russia in 2014. Belarus seems to want to improve relations with Europe without turning away from Russia. This year's estimated growth of Belarus decline 3.50 percent.
5. Saint Lucia
Sectors of the economy from tourism in Saint Lucia had never fully recovered, after the tourism sector slowed down drastically following the financial crisis. In fact, a number of flight trimmed there. Dependency of Saint Lucia on tourism make it vulnerable to seasonal when the global economy slowed down. As a result, this year the economy of the Islands St Lucia is estimated to slow down 0.60 percent.
6. Russia
Perekonomiam is very dependent on Russia for energy, so the country had to fight because the price of oil is down in 2014. Although Moscow has cut the budget to offset the weakening of oil prices, but many economists believe Russia is still problematic.
This is due to the intervention of Western countries in the private sector hurt the country. Therefore, this year the pace of Russia's economy is expected to experience a decline of 2.70 percent.
7. Serbia
Structural reforms have been delayed since the global financial crisis makes the high unemployment and stagnant income. In addition, Serbia still faces long-term challenges, such as the slowdown of the economy, high levels of corruption, an aging population, and inefficient justice system. With still high that problem, the Serbian economy is expected this year was down 0.50 percent.
8. Brazil
The Government of Brazil has tried to pump up economic growth through tax cuts and incentives for the industry to run household consumption over the last few years. Of all the problems that, World Cup 2014 is a huge burden on the economy. This year, Brazil's economy is estimated to be down 1.30 percent.
9. Croatia
Croatia's economy never fully recovered after 2008. Its economic growth has already corrected some 0.4 percent in 2014. The country has a high unemployment rate, and uneven development. This is compounded by the continued decline in foreign investment.
10. Yemen
The country was in the midst of the civil war continue to face a difficult long term challenges, including decreasing water resources, high unemployment, severe food shortages, and a high population growth rate. As a result, Yemen's economy is estimated to be rectified 2.80 percent.
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