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Puertego: Difference between revisions
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==Economy== | ==Economy== | ||
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 $32.5 billion each year from the 11 million Puertegans working abroad making up 8% of GDP. The economic liberalizations brought by the incumbent president have switched the country from an extraction based planned economy to a more market based 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 primarily 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 for investing in the SEZ's including temporary subsidies for their businesses, introductory tax rates being set up for their business, and tax shelters being used so that not all the wealth they make from the business is subject to taxation in Puertego, these practices have widely gotten Puertego labeled as a tax haven. The poverty rate in Puertego is around 3% of the population living on less than $1.90 a day, 45% living on less than $3.20 a day, and 82% living on less than $5.50 a day, 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, 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 $32.5 billion each year from the 11 million Puertegans working abroad making up 8% of GDP. The economic liberalizations brought by the incumbent president have switched the country from an extraction based planned economy to a more market based 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 primarily in utilities, banking, 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 for investing in the SEZ's including temporary subsidies for their businesses, introductory tax rates being set up for their business, and tax shelters being used so that not all the wealth they make from the business is subject to taxation in Puertego, these practices have widely gotten Puertego labeled as a tax haven. The poverty rate in Puertego is around 3% of the population living on less than $1.90 a day, 45% living on less than $3.20 a day, and 82% living on less than $5.50 a day, 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, 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. | ||
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The infrastructure of Puertego has long been recognized by international observers as being of poor quality with the two main reasons attributed to this being widespread corruption in the government and the prevalence of shanty towns in Puertego's major cities making planning for the locations of infrastructure difficult though there have also been other reasons given that are less widespread than the previous reasons such as the presence of land mines in the country from the nations long history of civil wars with it being estimated that as much as 8% of land in Puertegan territory is unusable due to the presence of landmines on it. However, the government has been making large efforts to try and improve the nation's infrastructure though with them trying to counteract the lack of services in the nations many slums by working with the population there to set up infrastructure in their communities primarily in terms of electricity, sanitation, and water access, the government of Puertego has made much progress with the latter two in recent years with the government with the government connecting around 6.6 million citizens to the nations sewer system and raising the number of citizens with access to clean drinking water by 38%. | The infrastructure of Puertego has long been recognized by international observers as being of poor quality with the two main reasons attributed to this being widespread corruption in the government and the prevalence of shanty towns in Puertego's major cities making planning for the locations of infrastructure difficult though there have also been other reasons given that are less widespread than the previous reasons such as the presence of land mines in the country from the nations long history of civil wars with it being estimated that as much as 8% of land in Puertegan territory is unusable due to the presence of landmines on it. However, the government has been making large efforts to try and improve the nation's infrastructure though with them trying to counteract the lack of services in the nations many slums by working with the population there to set up infrastructure in their communities primarily in terms of electricity, sanitation, and water access, the government of Puertego has made much progress with the latter two in recent years with the government with the government connecting around 6.6 million citizens to the nations sewer system and raising the number of citizens with access to clean drinking water by 38%. | ||
===Transportation=== | ===Transportation=== | ||
In Puertego the government maintains a national highway system running to major cities and a few of the larger towns though most of rural Puertego has to rely on dirt roads since only 20% of roads in Puertego are paved, maintenance of the road system has always been rather patchy due to embezzlement by officials meaning that the road system is often peppered with potholes. The government provides free public transport in cities with its bus routes going through them, a large reason for this is the large cost of owning a car due to almost all of them having to be imported from other countries and there being a rather limited supply. The government spends around 2% of its annual budget on transportation and maintenance of roads. | In Puertego the government maintains a national highway system running to major cities and a few of the larger towns though most of rural Puertego has to rely on dirt roads since only 20% of roads in Puertego are paved, maintenance of the road system has always been rather patchy due to embezzlement by officials meaning that the road system is often peppered with potholes. The government provides free public transport in cities with its bus routes going through them, a large reason for this is the large cost of owning a car due to almost all of them having to be imported from other countries and there being a rather limited supply. The government spends around 2% of its annual budget on transportation and maintenance of roads. Puertego currently operates 22 airports including 4 international airports with an additional 6 international airports being planned to be built by the state-owned company, in addition to airports the country has 10 functioning sea ports with an additional 3 under construction. | ||
===Energy=== | ===Energy=== | ||
Almost all of the energy in Puertego is provided by non-renewable sources with the nation being a large importer of oil, natural gas, and coal as well as a large extractor of these resources in its own borders, though it has been attempting to transition to more green methods of energy production with three nuclear power plants currently under construction in the country and expected to be fully operational in the next 3-4 years along with new hydro power being introduced for the first time in Puertego's history. Close to all the nation's electricity is provided by the state-owned utility company which provides electricity to the nation's citizens though still charges them for it and in most cases charges citizens more than a private company would. The government has been trying to provide more of its citizens with electricity by building new infrastructure for it, but this has proven difficult for the government due to the large amount of shanty towns in Puertego's cities with it being estimated that as many as 53% of Puertegans live in a slum, currently only around 45% of Puertegan citizens have access to electricity in their home. | Almost all of the energy in Puertego is provided by non-renewable sources with the nation being a large importer of oil, natural gas, and coal as well as a large extractor of these resources in its own borders, though it has been attempting to transition to more green methods of energy production with three nuclear power plants currently under construction in the country and expected to be fully operational in the next 3-4 years along with new hydro power being introduced for the first time in Puertego's history. Close to all the nation's electricity is provided by the state-owned utility company which provides electricity to the nation's citizens though still charges them for it and in most cases charges citizens more than a private company would. The government has been trying to provide more of its citizens with electricity by building new infrastructure for it, but this has proven difficult for the government due to the large amount of shanty towns in Puertego's cities with it being estimated that as many as 53% of Puertegans live in a slum, currently only around 45% of Puertegan citizens have access to electricity in their home. | ||