Economy of the Wechua Nation

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Economy of the Wechua Nation
File:Insert Not Erb Currency Image.png
Currency: the Wechua Sol ($)
GDP: $78.351 billion Sols (1664)
GDP by Sector: agriculture: 13.6%; industry: 38.1%; services: 52.0% (1662 est.)
Marketplace

Industries: mining, smelting, natural gas, food and beverages, tobacco, handicrafts, clothing, jewelry
Major Industry (% of GDP):
Largest Company (Value): General Company of Parap (TBD %)
Labour Force (% of Total Population): TBD (TBD %)
Labour Force by Sector:
  • Military and Defense: TBD (TBD%)
  • Food (% of All Employed): TBD (TBD%)
  • Industry
  • Energy: TBD (TBD %)
  • Services
  • Other: TBD (TBD %)
Unemployed (% of Total Population): 5.7% (1664 est.) note: data are for urban areas; widespread underemployment.

Budget: TBD $
Budget Surplus or Deficit: TBD $
Inflation Rate:

Exports: Things.
Export Partners: Caputia, Shireroth, Natopia, Xang Muang
Imports: Things.
Import Partners: Caputia, Shireroth, Stormark, Natopia
Reserves of Foreign Currency:

The economy of the Wechua Nation previously known for a historic pattern of a single-commodity focus, but since the year 1659, has seen a successful period of economic diversification. The GDP of the Wechua Nation in the year 1664 was $78.351 billion Sols.

Political instability and difficult topography have constrained efforts to modernize the country, especially its agricultural sector. Similarly, relatively low population growth coupled with low life expectancy and high incidence of disease has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption also have thwarted development, but in the mid-1660's the fundamentals of its economy showed unexpected improvement, largely credited to the country's accession to the Raspur Pact. The mining industry, especially the extraction of natural gas and zinc, currently dominates the Wechua Nation's export economy.

Between 1659 and 1664, GDP per capita is doubled and the extreme poverty passed from 38 to 18%.

Caputia is a member of the Raspur Pact, and it has several well-established and favorable trading relationships with Constancia, Craitland, Caputia, Krasnocoria, Natopia, Shireroth, and Xang Muang.

Overview

History

The Wechua economy has experienced crippling inflation for decades, at some point before its formal recognition at the MCS, experiencing a rate of inflation that reached over 20,000% (1638). In 1660, the government underwent fiscal and monetary reform that reduced the inflation rate to single digits by 1664, when the Wechua Nation experienced a manageable 4.9%. The reforms implemented a far-reaching program of macroeconomic stabilization and structural reform aimed at maintaining price stability, creating conditions for sustained growth, and alleviating poverty.

The most important structural changes in the Wechua economy involved the capitalization of numerous public sector enterprises. Capitalization in the Wechua context is a form of privatization where investors acquire a 50% share and management control of public enterprises by agreeing to invest directly into the enterprise over several years, rather than paying cash to the government. A major reform of the customs service significantly improved transparency and reduced corruption significantly. Additional trade links such as roads and railways that linked the country to Caputia built during 1660-1664 further expanded commerce between the two neighbors.

The Wechua Spring brought renewed social and political tension that culminated with structural reforms that have expanded individual liberties, opened the Wechua economy, and greater political involvement by the people.

The country's accession to the Raspur Pact and the benefits of its free trade market, coupled with parallel legislative reforms have locked into place market-oriented policies, that have led to growth and more private investment, especially in the hydrocarbon and telecommunication sectors. Foreign investors are accorded national treatment, and foreign ownership of companies enjoys virtually no restrictions in the Wechua Nation. While the capitalization program was successful in vastly boosting foreign direct investment, the country has began to experience reduced foreign direct investment as investors begin to complete their capitalization contract obligations.

Data

Central Bank of the Wechua Nation

Key Industries

Trade Agreements

Political Issues

See: the Government and politics of the Wechua Nation.

See: the Wechua Spring.

Debt