Graecian economic boom of 1688

The period known as the Graecian economic boom of 1688 AN refers to the sudden growth of the Graecian economy that started in 1688.

History

The People's Republic of Graecia had a very difficult start; being located in a barren island with no substantial natural resources, and being a totalitarian state, it naturally had nearly zero chances to prosper. However, a number of foreign investments (most notably in the automotive sector, with the two SAF factories Salonigrad Automobiles Factory and ULAS Salonigrad), and the fact that Graecia has joined many ventures of the Bassarid-controlled Port of Vines, means that a solid source of income was created. The Graecian currency, the Graecian drachma, even if very difficult to exchange (because the State Bank of Graecia has imposed strict limitations to protect the economy), has been stable, as it is pegged to the Craitish Cräite; as such, it has become stable, greatly helping the economy. The Graecian economic boom has also been made possible through the transfer of the Tarr people to the Chrysean state; as these people behaved in a way that caused problems to the whole state, their transfer incurred a great relief.

Developement

The Graecian government states that the first thing that this influx of money will be spent on is to make the Graecian armed forces larger and sustainable. Next, the income will be diversified in bettering the living conditions in the cities, and building more factories. Currently, the Graecian goverment states that a certain amount of wealth must be collected before it takes advantage of this sudden strengthening of the economy.