by Max Barry

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The Federal Overlordship of
Inoffensive Centrist Democracy

Overview Factbook Dispatches Policies People Government Economy Rank Trend Deck

7

Noronica.gov | Treasury & Economy


Nyssic ...

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Formed

1228

Employees

1,140

Legal Personality

Government Department

Jurisdiction

Noronica

Specialist Jurisdiction

Public Finance Policy

Minister Responsible

Rebecca Everett

Department Executive

Thomas Fischnett

Budget

$3,087,903,123.01

Overview

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Rebecca Everett
His Majesty's Treasury (HMT) is a department of His Majesty's Government of the Overlordship of Noronica which is responsible for; managing the public financial policy of the Federal Overlordship of Noronica, managing Government revenue, overseeing tax, and overseeing Governmental debt operations. It is the oldest government department, founded in 1228 by Queen Magaidh during her unification efforts in the Kingdom of Noronica.

The Overlordship of Noronica has a strong economy, centred on various industries including professional services, mining, machinery, technological hardware, and various forms of media. Noronica prides itself on its capitalist approach. Noronica's economy can be categorised as a partially regulated Market Economy. Therefore, there is some government oversight and direction over the economy which is in contrast to both a Laissez-Faire Economy and a Planned Economy.

Noronica's resource-filled geography is a very important factor of its economic activity. Noronica has an abundance of precious metals and it has relatively large reserves of natural gas and oil, all of which contribute highly to Noronica's exports.

Noronica also has a very significant and sophisticated arms industry, which is known for manufacturing very high-tech military equipment including nuclear-powered submarines, 4.5th generation fighter-jets and CATOBAR aircraft carriers.

Noronnican debt and deficit stem from the earlier rebellion which spiralled the economy out of control for a while. Noronica suffered its worst recession in living memory. This has meant that the government has had to take out loans from other countries and have paid most, but not all back. However, now that the economy is back on its feet and flourishing more than ever. The country is now able to spend a lot more and is promoting its 'Regional Noronica' brand.

Currency

Noron (ONN; ℕ)

Exchange

$1 USD = ℕ1.36 NR

Fiscal year

15 January - 14 January

Population

28,936,542

GDP nominal

$854,901,196,848.00

GDP per Capita

$29,544.00

Average Tax Rate

35%

Government Budget

$239,372,335,117.44

Labour Force

19,468,271

Unemployment Rate

3%

Total Deficit

$13 Billion

Total Debt

$67 Billion

Our Ministers

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PM Joshua McIntosh

Formal First Lord Treasurer

Rebecca Everett

Lady Treasurer

Duncan Robbson

Chief Secretary to the Treasury

Irene Hynton

Financial Secretary to the Treasury

Johnathan Grass

Exchequer Secretary to the Treasury

Gregory Caeberhall

Economic Secretary to the Treasury

The Budget

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Sector

Percentage

Amount

Administration

4.30%

$10,293,010,410.05

Health Care

11.00%

$26,330,956,862.92

Education

12.00%

$28,724,680,214.09

Defence

24.44%

$58,502,598,702.70

Foreign Affairs

3.30%

$7,899,287,058.88

Employment, Welfare & Culture

10.00%

$23,937,233,511.74

Law, Intelligence & Domestic Security

12.00%

$28,724,680,214.09

Transport & Infrastructure

10.00%

$23,937,233,511.74

Environment & Energy

5.00%

$11,968,616,755.87

Business & Industry

3.40%

$8,138,659,393.99

International Development

4.00%

$9,574,893,404.70

Other Expenditure

3.00%

$7,181,170,053.52

TOTAL
Deficit

105.44%
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$252,394,190,147.83
$13,021,855,030.40

Major Companies

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Logo

Company

Revenue

Industry

Rehbon Mining Corporation

$28.21 billion

Mining

Frost Incorporated

$42.82 billion

Technology

Noronnican Media Corporation

$4.676 billion

Media

Royal Noronnican Banking Corporation

$813.64 billion

Banking

Hunter Defence Systems

$15.27 billion

Defence

Blackwall Experimental Aviation

$1.35 billion

Defence

Siork Airlines
Siork Aerospace

$22.42 million

Aircraft

Major Exports and Imports

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Exports

Imports

Professional Services

Building Materials

Minerals

Raw Materials

Manufactured Goods

Manufactured Goods

Entertainment

Electric Equipment

Industrial Supplies

Medical Equipment

Agricultural Products

Plastics

Chemicals

Renewable Energy

Clothes

Pharmaceuticals

Metals

Foodstuffs

Telecommunications

Fuels

Transport Equipment

Military Arms

Food and Beverages

Finance

Fuel, Oil and Petroleum Products

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