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==Economy and Infrastructure== | ==Economy and Infrastructure== | ||
{{main|Economy of Lucrecia | {{main|Economy of Lucrecia}} | ||
Lucrecia's economy is a {{wp|capitalist}} {{wp|mixed economy}} | Lucrecia's economy is a {{wp|capitalist}} {{wp|mixed economy}} with its three major sectors being the {{wp|tourism}} industry, {{wp|service (economics)|services}}, and {{wp|retail}}. As the sole sovereign nation in the southern islands of Vallos, Lucrecia is also an established global logistical centre as well as a key financial centre in the area. Because of its key position, the Lucrecian economy is known for being one of the most innovative in the world as well as one of the freest and easiest to do business in, with robust competitiveness. Through agreements, certain major corporations are given tax breaks and all neighbouring nations have been given very generous free-trade agreements. Although it has consistently ranked high in economic freedoms, the nation also has a significant disparity in income between the wealthier [[Isurian Generality]] and the stagnating [[Emeritan Republic]], a dual nature that has existed ever since federalisation in the late 20th Century. | ||
Since federalisation, the Lucrecian economy has grown by an average of over 7% annually between the years 1975 and 2015, making Lucrecia a {{wp|highly developed}} nation. It attracts a large amount of foreign investment, as well as indirect influence, as a result of its location, economic freedoms, corporate tax breaks, free-trade agreements, and global trade connections. Lucrecia also has one of the world's largest foreign exchange reserves. | |||
===Tertiary and secondary sectors=== | |||
The {{wp|tertiary sector of the economy|tertiary sector}} comprises a major proportion of the Lucrecian economy, with tourism, services, retail, shipping, and banking making up the primary components of this sector. Lucrecia is currently the seventh-largest trading entity measured by imports and exports, trading an amount of goods worth more than its total {{wp|gross domestic product|GDP}}. The nation’s [[Toledo Stock Exchange]] is among the largest in the world by market capitalisation, at $5.9 trillion as of Q3 of 2034. Its major banks, the [[People's National Bank]], the [[Federal Credit Union]] and [[New United Bank]], are among the largest in Vallos, and have been ranked as the 3rd, 4th, and 6th most stable and strongest banks, respectively. Lucrecia also maintains a small secondary sector; focused on the manufacturing of electronics such as terminals for [[Rumahoki]]'s [[Videocom]] service. | |||
The | ===Currency=== | ||
{{main|Denario}} | |||
The nation’s currency, the Lucrecia dollar, is pegged at a ratio of 5.1 to 1 with the Caphirian [[Aureus]]. Notes are issued by one of three banks, Chartered Bank, Dominion Bank, and Standard Bank, each of which has to deposit an equivalent sum in Aureus’ with the central bank when issuing currency. This ensures that the dollar is backed by one of the largest foreign reserves in the world, guaranteeing a stable exchange rate. | |||
=== Income, poverty and wealth === | === Income, poverty and wealth === | ||
Although with the 4th highest GDP per capita, Lucrecia continues to have one of the world’s lowest rates of income mobility and the highest rates of wealth inequality, with a Gini coefficient of 48.2. With the exception of healthcare services, a majority of the nation’s welfare programs have gone underfunded in recent years, exacerbating these issues. | Although with the 4th highest GDP per capita, Lucrecia continues to have one of the world’s lowest rates of income mobility and the highest rates of wealth inequality, with a Gini coefficient of 48.2. With the exception of healthcare services, a majority of the nation’s welfare programs have gone underfunded in recent years, exacerbating these issues. | ||