The world is gradually experiencing improved economic conditions and this has helped push some countries above the poverty line. However not all countries have benefited from this improvements as there are many with low GDP per capita income. The following countries are the top five poorest countries in the world based on GDP per capita.
The Democratic Republic of Congo is one of the highly populated countries in the world but its economy is not booming as could be expected. Over the years the country has been involved with many conflicts from rebel factions. Although this country is blessed with many natural resources such as tungsten and copper, it has not been able to benefit from these resources due to the unstable environment. Meanwhile, even with the unstable situation in the country, some huge investments are still being made. However as long the country continues to be unstable, its economic prospects may not improve.
The fall of this country’s currency is one of the main reasons why the economy has suffered. The value of the country’s currency dropped so drastically that inflation became so high causing the country to revert to the US dollars. Poor governance has also discouraged investment in the country while repeated sanctions from western countries only went to compound the problem. Even with the high literacy rate among the population, the unemployment rate is still over ninety per cent. The World Bank reported in 2011 that seven out of ten Zimbabweans live below the poverty line. Its GDP per capita is $571
Burundi is a landlock country which has more than a third of its population living below the poverty line. Poor governance is one of the main reasons why this country has not managed to improve its economic status. Corruption is rife and doing business is not very easy. That is why in the past most high profile investors have turned away from taking any investments opportunities in this country. Today there are hopes that the economy will improve by at least 25% in the years leading to 2018 although this may not be enough attraction for investors. The GDP per capita of this country is $640.
Eritea has had its share of problems which includes war with neighboring Ethiopia and a dull investment environment. Most of what is known about natural resources in the country can be classified as rumors. Also, there are reports of the government’s abuse of its people as well as allegations of corruption. The result of this is the exodus of most of its citizens to neighboring countries for greener pastures. Estimates of growth in GDP for the years leading up to 2018 suggest 1.7%. Going by this estimate, Eritea will find itself in the second place as the poorest country in the world. Its GDP per capita is $705.
Liberia has been through a lot in the past going through a series of unrest that rocked through the country and left many people fighting for survival. At least half of the population live below the poverty line. After huge deposits of hydrocarbons were discovered off the coast of the country, this has renewed investments from international firms. Unlike Eritea, there are great hopes that the economy of this country will do better in the years to come. The GDP per capita is $710