Norway became the best economy in the world
reported
In this new ranking, America is ranked among the top 20 countries in the world as the world’s largest economy with high per capita income and strong economic growth. The American economy is now ranked second among G7 countries after Canada and fourth among G20 countries after Australia, South Korea and Canada.
According to this report published in Independent Australia, the world’s top 10 economies that have obtained the highest score of Australia’s independent economic management rating are Norway with 32.32 points, Denmark with 23.75 points, United Arab Emirates with 23.48 points, Hong Kong with 22.47 points, Switzerland with 19.14 points, Oman with 18.12 points, Australia with 17.42 points, South Korea with 14.94 points, Singapore with 14.75 points and Iceland with 14.59 points.
Norway, Denmark, United Arab Emirates, Switzerland, Singapore and Iceland were all in the top ten countries of 2023. Hong Kong has moved from 12th last year to 5th this year in terms of strong employment and GDP growth. Oman has improved by ten places in terms of employment and budget surplus, and South Korea has improved by three places compared to last year.
The economies of Taiwan, Malta, Cyprus, Luxembourg, Canada, New Zealand, Slovenia, the Netherlands, the United States and Ireland are the next top 10 economies in this ranking. Examining the economic indicators considered for this ranking in the lowest ranks in the new report shows that the world’s economies are going through a period of abnormally low GDP, high government debt and a budget deficit greater than the surplus.
The data examined in this ranking is obtained from the tables published by the International Monetary Fund, the World Bank and the Swiss bank UBS. This ranking is the only indicator of the overall economic performance of the world using multiple variables.
A Norwegian excellence
Norway is unique among advanced economies in that most of the profits from its extensive energy exports are kept domestically, rather than being transferred abroad by large corporations. The revenue from oil and gas fields in the Norwegian North Sea goes to a sovereign wealth fund, which provides a major part of the country’s social welfare and infrastructure investment.
Norway’s lead in this ranking this year is mainly due to its excellent budget surplus, net savings, high per capita income and low unemployment rate. During the Labor government of Prime Minister Jonas Storr, Norway also achieved a new record in exports to recorded, household debt and inequality decreased. Norway’s unemployment rate when Jens Stoltenberg’s Labor Party came to power in October 2005 was 4. It was 5 percent. A year later, this rate reached 3.3% and after two years it reached 2.4%. This pattern was repeated in 2021 and 2022.
The world’s largest economy, the United States, is ranked 19th in this new ranking, down one place from last year. Although the results for jobs, income and GDP growth have been good for this large economy, the US economy lags behind other developed countries in terms of budget deficits and government debt. America has not yet recovered from the four years of mismanagement of four years of Trump’s presidency. In 2018, America fell from the top 10 economies in this ranking to 29th place and in 2019 to 34th place.
Successful economies last year, in addition to all the countries in the top ten, include Taiwan with 12 places up to 11th place, Sweden with 21 places up to 23rd place and England They are ranked 27 with 19 places. Economies that have taken a downward trend in include Singapore with a 6-point drop in ninth place, Ireland with a 12-place drop in the 20th place, and the Zionist regime with a 13-place drop in the 25th place. are.
