Economics Article WK 2
Ailyn Martinez
Jan, 19. 2016
2016’s Worst Economic Performers
For the world’s worst-performing economies, no good will come from the
New Year’s resolutions to do better, Oil rich Venezuela will contract by 3.3 percent
this year, Venezuela ranked highest among 93 countries around the globe, their poor
performance was followed by Brazil, Greece and Russia. The recession club is the
one no country wants to join. Latin America shortage of goods will even include a
drop in medicine due to the inevitable collapse in oil prices. As a group Latin
America will be looking at a third straight year of negative GDP. Their bad economic
situation is followed by Europe where its been reported that is struggling in the
banking sector, estimating a shrink of 1.8 percent making their debt much harder to
pay off. Russia will be in their longest recession over two decades. But it is not all
bad news around the globe, other areas of planet earth will be doing considerably
good, for example Asia, deflation pained Japan is forecast to grow one percent this
year, ranking within the best performers, the country’s cabinet recently approved a