10 World's Worst Economies

Syria

Second on the list is Syria. This strife-torn Arab nation’s economy shrank by at least 6 percent last year as dictator Bashar al-Assad drew stiff international sanctions over his bloody military attacks on his own citizens. Inflation has climbed up to 30 percent meanwhile, as the country struggles with import restrictions and a severe drought that has cut domestic food production. The pace of food-price appreciation in Syria accelerated dramatically, rising 39.3 percent  year over year, up even more from the already worrisome pace of 27.1 percent  seen in February. Country’s per capita GDP is calculated as $2528.

Syria is a middle-income country, with an economy based on agriculture, oil, industry, and tourism. However, Syria's economy faces serious problems and challenges and impediments to growth, including: a large and poorly performing public sector; declining rates of oil production; widening non-oil deficit; widespread corruption; weak financial and capital markets; and high rates of unemployment tied to a high population growth rate.