Thailand accorded “least miserable economy” title by Bloomberg

Lt Gen Werachon Sukondhapatipak, deputy spokesman of the Thai government, revealed recently that Prime Minister Gen Prayut Chan-o-cha was satisfied with the 2019 Bloomberg Misery Index, as Thailand again claimed the title of “least miserable” economy.

“The misery index of Thailand stood at 2.1, the lowest in 2018, and the forecast 2019 index remains 2.1, top of the chart,” Lt Gen Werachon said.

According to Bloomberg, the Misery Index relies on the concept that low inflation and unemployment generally illustrate how good an economy’s residents should feel. This year’s scores are based on Bloomberg economists’ surveys, while prior years reflected actual data.

The Bank of Thailand supplied the data that Thailand has an unemployment rate as low as 0.9, while the inflation rate was 1.1 in 2018.

“Besides employment and inflation rates, the prime minister emphasized that other important issues have to be closely monitored as well, including the cost of living, and the suppression of corruption and crime, which help lead to true happiness of the citizens,” he added.

The top five countries with the least miserable economy are 1) Thailand, 2) Switzerland, 3) Japan and Singapore, 4) Taiwan and 5) Malaysia.