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Puertego: Difference between revisions
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==Economy and Infrastructure== | ==Economy and Infrastructure== | ||
''The economy of Puertego is considered a mixed model economy based largely on natural resource extraction primarily via agriculture, fishing, and mining, manufacturing primarily of steel, chemicals, and textiles, and remittances from Puertegans living and working abroad with the final providing an estimated $19.5 billion each year making up 4.8% of GDP. The economic liberalizations brought by the incumbent president have switched the country from an extraction based planned economy to one split between extraction and industry, the country has adopted much greater economic freedoms than it had under any previous governments with the Special Investment Zones established under him meant to attract foreign investment through very reduced regulations and taxes to business operating there, though the government also maintains monopolies with their state run industries which operate in utilities and natural resources. Economic growth in the nation has been relatively steady with the economy growing by an average of 6-7% each year since 2008 primarily attributed to the Special Investment Zones established at the time, foreign investors in Puertego get many benefits from the government including temporary subsidies for their investments and not having the full amount of their wealth made from it taxed. The poverty rate in Puertego is around 1 in 5 Puertetgans living below the poverty line, in addition the Puertegan government offers very little in terms of social welfare for average citizens, this combination means that there is a large amount of street crime in the nation's cities and a large black market estimated to be worth around $22 billion with this being allowed to happen by pervasive corruption in almost all levels of the government. Due to a rather large focus on natural resources the economy of Puertego can be very affected by natural disasters such as forest fires or floods. Unemployment in Puertego currently sits at approximately 1.2% due to the almost universally guaranteed job offered to citizens in government run industries though the 1.2% of the workforce that are unemployed are often some of the most destitute members of society due to the lack of many welfare programs that many other countries offer, workforce participation in Puertego sits at 80% of the population or 52,000,000 citizens. Puertego has an import to export ration of 1:12 though this number is predicted to rise in the future by the government who claim that they hope to get it to 1:20 in the next ten years though the validity of this hope has been called into question, Puertego's main exports are steel, raw minerals primarily gold, copper, and tin, chemicals, textiles, agricultural products primarily rubber, tobacco, and sugar while the country's main imports are electronics, fossil fuels, medicine, food, and fertilizer. Puertego has a debt to GDP ratio of 77% and a credit rating of BB+ primarily due to the many governments that came before the current regime running deficits that spiraled the country into 4 different debt crises throughout its history, the national debt of Puertegto is currently being reduced by the government.'' | ''The economy of Puertego is considered a mixed model economy based largely on natural resource extraction primarily via agriculture, fishing, and mining, manufacturing primarily of steel, chemicals, and textiles, and remittances from Puertegans living and working abroad with the final providing an estimated $19.5 billion each year from the 10 million Puertegans working abroad making up 4.8% of GDP. The economic liberalizations brought by the incumbent president have switched the country from an extraction based planned economy to one split between extraction and industry, the country has adopted much greater economic freedoms than it had under any previous governments with the Special Investment Zones established under him meant to attract foreign investment through very reduced regulations and taxes to business operating there, though the government also maintains monopolies with their state run industries which operate in utilities and natural resources. Economic growth in the nation has been relatively steady with the economy growing by an average of 6-7% each year since 2008 primarily attributed to the Special Investment Zones established at the time, foreign investors in Puertego get many benefits from the government including temporary subsidies for their investments and not having the full amount of their wealth made from it taxed. The poverty rate in Puertego is around 1 in 5 Puertetgans living below the poverty line, in addition the Puertegan government offers very little in terms of social welfare for average citizens, this combination means that there is a large amount of street crime in the nation's cities and a large black market estimated to be worth around $22 billion with this being allowed to happen by pervasive corruption in almost all levels of the government. Due to a rather large focus on natural resources the economy of Puertego can be very affected by natural disasters such as forest fires or floods. Unemployment in Puertego currently sits at approximately 1.2% due to the almost universally guaranteed job offered to citizens in government run industries though the 1.2% of the workforce that are unemployed are often some of the most destitute members of society due to the lack of many welfare programs that many other countries offer, workforce participation in Puertego sits at 80% of the population or 52,000,000 citizens. Puertego has an import to export ration of 1:12 though this number is predicted to rise in the future by the government who claim that they hope to get it to 1:20 in the next ten years though the validity of this hope has been called into question, Puertego's main exports are steel, raw minerals primarily gold, copper, and tin, chemicals, textiles, agricultural products primarily rubber, tobacco, and sugar while the country's main imports are electronics, fossil fuels, medicine, food, and fertilizer. Puertego has a debt to GDP ratio of 77% and a credit rating of BB+ primarily due to the many governments that came before the current regime running deficits that spiraled the country into 4 different debt crises throughout its history, the national debt of Puertegto is currently being reduced by the government.'' | ||
===Industries and Sectors=== | ===Industries and Sectors=== | ||
''The single largest sector of Puertego's economy is manufacturing with it making up 64% of the economy and employing 33% of the workforce, the primary manufacturing products in the country are steel, aluminum, various chemicals, and textiles with Puertego also having become a very attractive place for companies to outsource jobs to due to the of their workforce and the low taxes and regulations on business there. Resource extraction is also a very large section of the economy with it making up 28% of the economy and employing 57% of the population, the primary resources sold off by Puertego are often minerals such as iron, gold, tin, nickle, and copper, and agriculture products such as rubber and sugar, all of the natural resources in Puertego including minerals, oil, non-food agriculture, fishing products, and even fresh water and owned and operated by government run companies. Services are a relatively small section of the economy only making up 8% of the economy and employing 10% of the population with most of the people working in this sector working in finance, banking, or utilities though construction has become a growing sector as well due to the large demand by both the government for its infrastructure and by private companies however construction is also an industry largely occupied by companies operating in the informal sector and allowed to keep existing via corruption.'' | ''The single largest sector of Puertego's economy is manufacturing with it making up 64% of the economy and employing 33% of the workforce, the primary manufacturing products in the country are steel, aluminum, various chemicals, and textiles with Puertego also having become a very attractive place for companies to outsource jobs to due to the of their workforce and the low taxes and regulations on business there. Resource extraction is also a very large section of the economy with it making up 28% of the economy and employing 57% of the population, the primary resources sold off by Puertego are often minerals such as iron, gold, tin, nickle, and copper, and agriculture products such as rubber and sugar, all of the natural resources in Puertego including minerals, oil, non-food agriculture, fishing products, and even fresh water and owned and operated by government run companies. Services are a relatively small section of the economy only making up 8% of the economy and employing 10% of the population with most of the people working in this sector working in finance, banking, or utilities though construction has become a growing sector as well due to the large demand by both the government for its infrastructure and by private companies however construction is also an industry largely occupied by companies operating in the informal sector and allowed to keep existing via corruption.'' | ||