Economy of Furnifold

Summary

Furnifold is a developing nation, trending towards positive development with a stable growth pattern and a government embracing several aspects of modern civilization. Though primarily agriculture, Furnifold is moving towards a service-based economy. A dearth of natural resources in the country and several environmental concerns make Furnifold a resource poor nation. Due in part to foreign agricultural investment, Furnifold embraced a "Green Revolution" of sorts, engaging in efficient and productive agricultural advancement. Now, it exports more agricultural goods than its population needs to eat, and agribusinesses of Furnifold are the most profitable companies in the country. It currently retains several institutions of agricultural science, and exports specialized knowledge of agricultural practices to interested nations.

The industrial sector of Furnifold is small, and located in the cities of Boonefield, Kwoleck, and Chonvor City. Furnifold produces primarily simple manufactured goods, like textiles, and a small supply of precious metals. Furnifold's economic goal is to expand the complex manufactured development in the nation, and is beginning to encourage foreign investment and foreign specialists to the nation for this purpose.

Furnifold seeks to expand its service sector, which is composed of mainly investment banking and government services. Occupying a major shipping lane, Furnifold is expanding its export and shipping services. Previously it had owned a port-of-call named Gronmund Port, but due to budget deficits it sold the Port. Furnifold has consolidated its port holdings into the cities of Hafre and Ato. Its other expansion is in investment and brokerage. Woolf and McLendal are the only locations within Furnifold that have enough capital and demand for investment brokerage, so Furnifold companies have expanded out to other nations and operate in them. Currently investment brokerage firm Manleh Cousins is operating a global commodities market in Kuthernburg.

Other Facts

• Income and GDP
  • Household Consumption: 43.8%
    
  • Government Consumption: 20.8%
    
  • Investment in Fixed Capital: 34.3%
    
  • Investment in Inventories: 0.6%
    
  • Exports of Goods and Services: 11.2%
    
  • Imports of Goods and Services: -5.4%
    

• Budget:
  
  • Revenues- 4,603,143,215 (SHD)
    
  • Expenditures- 7,443,188,320 (SHD)
    
• Taxes as a proportion of revenues:
  
  • 94.6% of budget
    
• Household income or consumption by percentage share:
  
  • Lowest 10%: 0.9%
    
  • Highest 10%: 60.2%
    
• Gini Index of Income Inequality- 65.2
  

Ease of Doing Business

Furnifold is one of the easiest countries on Urth to do business in. At the same time, it takes a fair amount of loose cash to pay off government officials, and create the right partnerships with secondary industries to get a business going. With a high unemployment ratio, Furnifold is ripe with young and able-bodied workers to be employed by manufacturing industries.

It takes on average about half a day's worth of paperwork to create a business. It is also one of the easiest countries to start up companies, as the permitting process is very easy. The hidden secret is that the process requires a few bribes, which is very easy to do in Furnifold. It will probably take a few weeks to get electricity going, but that is expedited if the start-up bribes the right people. If a company deals with foreign trade, there is a foreign tax tariff rate of 12% on the products, but the government affairs office has been known to lower the tariff rate for companies. Industries pay a 12% flat tax on earnings, but there aren't important regulations that drastically drive up costs. The one exception are certain environmentally and culturally protected areas of Furnifold, which are highly regulated. Gaining credit and supports for insolvency are almost nonexistent in Furnifold, requiring external sources to deal with these problems. This lowers the number of Furnifold-based businesses, and is advantageous for foreign firms.