The ranking from the magazine takes into account GDP, inflation, the extent of inflation, stock market performance and public debt.

At the top of the list is Greece, with the publication signalling that “for the first time in a long time, the economic party is taking place in the Mediterranean.

“Other countries that plunged into the depths of the economy in the early 2010s, including Portugal and Spain, also scored highly”, they point out. Factors such as the recovery of tourism and less dependence on Russian gas contributed to this performance.

Other surprises in this year's economic ranking include Israel, which is ranked 4th after Ireland. On the other hand, in the unexpected negative participations, Germany is in 30th place, as well as two Baltic countries, Estonia and Latvia, which “won praise in the 2010s for their rapid reforms” but are now in last place.