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by The Most Serene Republic of Montevento. . 88 reads.

ECONOMY | Most Serene Republic of Montevento

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HOME | INFORMATION | GOVERNMENT | FOREIGN AFFAIRS | TOURISM | DEFENSE | ECONOMY | EDUCATION⠀⠀
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Ministero dell'Economia
e delle Finanze

Ministry of Economy and Finance of the Most Serene Republic of Montevento
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>> GENERAL INFORMATION

⠀⠀⠀⠀⠀Economy of Montevento⠀⠀⠀⠀⠀

⠀Ministry of Economy and Finance⠀

Minister⠀⠀⠀⠀⠀

Amelia Cardoni
(Partito Nazionale)

General Information

Currency

Monteventani Florin
(MFL, ƒ)

Trade Organizations

GFTC, IFTC

Country group

Developed/Advanced
High-income economy

Statistics

GDP

ƒ 129.590 Billion

GDP per capita

ƒ 78.836

GDP by sector

Agriculture: 4.7%
Industry: 21.2%
Services: 74.1%

Inflation

0.7% (2020 est)

Population below
poverty line

6.2% (2018)

Gini coefficient

31.4 - Medium

HDI

0.883 - Very High

Labour fource

949.688

Unemployment

5.1% (2018)

The economy of Montevento is a high-income economy and is considered as one of South America's most prosperous nations, leading Latin American nations in competitiveness, income per capita, globalization, economic freedom, and low perception of corruption. It is the result of the vast natural resources of the nation in combination with a highly educated population, supported by a continuous strong economic growth, low inflation and low unemployment rates, in addition to a very favourable and relaxed tax regime to promote the development of both foreign and national companies in the national territory of the country.

Although Montevento's economy was traditionally based on agricultural activity since colonial times, with the forestry industry and the production of sugar, rice and tropical fruits being the most profitable sources of income for the country, the weight of other sectors of the economy grew considerably in recent decades, transforming the economy from one based on agriculture to one based on industry and services.

San Giovanni's commercial district
The country is most notably known for its innovative business economic sector, an industrious and competitive agricultural sector product of the agricultural past of Montevento, and for its creative and high-quality pharmaceutical industry, furniture design and food products, as well as for its quickly developing tourism sector, which has started to take a central role in Montevento's economy thanks to the ease in travel restriction and the international promotion of Montevento as an interesting and cheap tourist attraction.

Other less developed, but still considerable sectors of the Monteventani economy are mining (especially of aluminium oxide, bauxite and gold) which has seen a steady decline as the country progresses to a more environmentally friendly regime, and the telecommunications industries, which are taking a more central role as the nation modernizes and introduces new and innovative technological resources.

Montevento is considered by many international organizations as one of the most business-friendly countries and one of the easiest places to do business in South America, and even the world, probably thanks to the numerous financial aid plans promoted by the government and the low requirements to start ventures in the country. Montevento has also become one of the most advanced countries in the Americas in terms of respect for fundamental labour rights, in particular freedom of association, the right to collective bargaining and the right to strike.

The country is also benefited by a considerable immigration since its independence coming from various countries in America and Europe, which provide both skilled and unskilled labor, as well as innovation and new economic projects for the country.

The Monteventani currency is the Monteventani Florin (ƒ) and it is issued, controlled, and regulated by the Banca Centrale di Montevento (BCM), the country's central bank, established in 1848. The current Florin consists of coins of 0.10, 0.25, 0.50 and 1 ƒ and banknotes of 1, 5, 10, 20, 50, 100 and 200 ƒ. The use of physical money is in decline in the country, with more and more citizens opting for the use of credit and debit cards, further impulsed by a large number of benefits and laws to favor their use. The Borsa di San Giovanni is the country's only stock exchange.

The country has followed a strong trend towards the privatization of state-owned companies, although for many decades it has maintained a policy of keeping companies that handle sectors of great public importance, such as water services, electricity, transportation and telecommunications under the control of the state, but it does not maintain monopolies on these services, allowing private companies free competition with state-owned companies.

Historically, the biggest problem for Montevento's economy has been inequality, which has been fought by different governments of the country with different methods, generally obtaining poor results. Despite this, the country's gini coefficient remains below the average for South America and the region and has been slowly narrowing down during the past years, no longer being a major problem.


>> SECTORS

A rice field in Costa Grande
⠀⠀• Agriculture

Agriculture and similar sectors like forestry, logging and fishing accounts only for 4.7% of the GDP and employs around 10.6% of the country's labor force. According to the last national agricultural census, there were a total of 32.589 farms (-22% since 2000) covering 1.06 million hectares, most of which are located in the Province of Fiume D'Oro and Costa Grande. The vast majority are family-operated and small, averaging only 30 hectares in size.

Of the total surface area in agricultural use (forestry excluded), rice fields take up 51% of the cultivated area, followed by sugarcane with 18% and bananas 11%. Most of Montevento's rice production is used for internal consumption, although rice exports have been rising during the last years, while sugar accounts as one of the main agricultural export products of the nation. Montevento also produces considerable amounts of wheat, palm kernels, coconuts, plantains (cooking bananas), peanuts, coffee, cocao, cassava, citrus fruits, pepper, pumpkins and livestock commodities from the country's various cattle ranches including beef, pork, poultry, dairy products and fish, notably shrimp.

A large portion of Monteventani agriculture is dedicated to the cultivation of high quality organic products, which are exported at a premium price to North American and European markets. These products also include a high range of organic exotic fruits such as mangoes, papayas, pineapples, and passion fruit.

Forestry is also one of the main agricultural activities of Montevento, as forests cover three-quarters of the country's land and over 1,000 different species of trees are known to grow in the country. Currently, 120 species are being logged in various forms, with between 12 and 15 of these logged on a commercial scale through a system of concessions. The most sought after species include Greenheart, Mora, Baromalli, Purpleheart, Crabwood, Kabakalli, and Wamara. Forestry activities contributed roughly 2% to annual national GDP while employing around 18.000 people. Timber harvesting is mainly concentrated in the middle and northern part of the country, specially in the Province of Nuova Italia and Essequibo.

A cellulose pulp plant in the Essequibo River
⠀⠀• Industry

Industrial production is highly diversified in Montevento. Leading sectors by production value are: Food processing and beverages; biodiesel; chemicals and pharmaceuticals; steel, aluminium and cellulose pulp. Modern non-traditional technology-based industries like aerospace, biotechnology and information technology, have been developed in several locations across the country.

The largest sector is the pharmaceutical industries, which are mostly located in the Province of Fiume D'Oro. Pharmaceutical production in Montevento has been on the increase for the past 20 years, with the country becoming an important hub for the production of drugs for export to South American, Central American and Caribbean countries. Montevento is specialized in the production of high-cost drugs that are used strictly under clinical protocols and guidelines, as well as drugs of strategic use against diseases such as leprosy, tuberculosis, malaria, and HIV/AIDS.

Hand in hand with the growing forest exploitation, another industry that is developing rapidly in the country is the production of cellulose pulp for the manufacture of paper, with the opening of 3 factories of the highest technological level in the country, complying with strict controls that ensure that the pollution emitted by this industry remains below the maximum levels allowed by the Ministry of the Environment. The highest international investments in Montevento in recent years have been made by this sector.

Most industries in Montevento are located in special zones named as "Industrial Parks", where companies enjoy special taxation policies similar to those applied in Free Economic Zones in order to encourage investments and development. Further taxation cuts are also applied for companies choosing certain practices over others, such as being environmentally friendly or employing a certain number of Monteventani citizens.

RTVM Headquarters in San Giovanni
⠀⠀• Services

The service sector is undoubtedly the most developed in Montevento, with extensive contributions from tourism, commerce, transportation and communication. It accounts for around 74.1% of the total GDP of the country and employs nearly 55% of the total population of the country. The tourism sector constitutes one of the main pillars of the country's economy, having received in 2019 around 15 million tourists in total, a number 7 times greater than the permanent population of the country. Over the years, the number of tourists in Montevento has increased, as well as the benefits and attractions available in the country. The main attractions of the country are centered around adventure tourism, mostly due to Montevento's large jungles, and also beach tourism, with good contributions from night and party tourism, mainly in the city of San Giovanni.

The internet and technology have also been a great source of economic income for the country, with numerous companies, public and private, managing communications through this medium, as well as a huge digitalization of services, being able to find all kinds of companies offering their services by Internet. Montevento is the South American country with the fastest and most widespread internet connection in the country, with more than 80% of the people having access to it. Software production and optimization is another of Montevento's strengths, with multiple companies dedicated exclusively to the development of computer programs to export and sell to other destinations.

Montevento is also known for several of its communication-related companies, which are widely supported by different government initiatives. Among them, the state-owned company Radiotelevisione Montevento (RTVM) stands out, which operates a total of 3 television stations in Montevento and more than 30 abroad, mainly in South America and the Italian peninsula. In addition, the company also operates more than 100 radios around the world and also offers national streaming platforms, content productions and a range of digital services. Montevento is also the home to some important satellite companies which operate globally.


>> STATE-OWNED COMPANIES IN MONTEVENTO

State-owned companies are normal companies but mainly or fully state-owned, legally belonging to the Ministry of Economy and Finance, but usually administered by other ministries competent in the area of work of each company. Monteventani state-owned companies are classified in two groups:

  • Autonomous Entities (EA - Entitΰ Autonome): They are regarded as completely normal companies, and operate as any private company would. They are expected to be funded by their sales, and not be given direct tax money, although a big customer might be the state or a government institution. Most state-owned companies that offer services in an area where there is private competition, and its services are not regarded as essential, are usually named as Autonomous Entities, due to a wish to avoid unfair competition (because it could mean using tax money to beat private companies), and to have a market economy instead of planned economy as much as possible. Autonomous Entities are also allowed to expand into international markets, although they generally do so through subsidiaries.

  • Essential Entities (EE - Entitΰ Essenziale): They might do activities competing with privately owned companies, but usually are funded by tax money. These companies are characterized by providing services that are classified as essential for the citizens of the country, such as drinking water, electricity, transportation, food, etc. Although the government seeks that, like the Autonomous Entities, these companies can be funded by their own earnings, the state will ensure that they do not go bankrupt and will provide them with all the resources, as necessary, so that they can expand and improve their services. Essential Entities usually intervene where private capital is afraid of losing money, as they should not be guided by profits but by public service. Generally, Essential Entities are not allowed to expand internationally.

Some notable Monteventani state-owned companies are:

N

Logo

Name

Headquarters

Net Income

Assets

Employees

Sector

Type

1

Banca Popolare di Montevento
Popular Bank of Montevento - BPM

Nuova Firenze, Fiume D'Oro

▲ ƒ 848 million

▲ ƒ 11 billion

1.434

Banking
Financial services

Autonomous Entity

2

Radiotelevisione Montevento
Radio & Television Montevento - RTVM

San Giovanni, Costa Grande

▲ ƒ 701 million

▲ ƒ 5,2 billion

1.532

Broadcasting
Entertainment
Mass media

Autonomous Entity

3

Nuova Firenze Farmici
Nuova Firenze Pharmaceuticals

Nuova Firenze, Fiume D'Oro

▲ ƒ 583 million

▲ ƒ 2,1 billion

1.920

Pharmaceuticals
Commodity chemicals

Autonomous Entity

4

Montecom
Montevento Communications

San Giovanni, Costa Grande

▼ ƒ 244 million

▲ ƒ 5,9 billion

3.215

Telecommunications
Internet

Essential Entity

5

Agrigroup
Agricultural Group of Montevento

Cosimia, Essequibo

▲ ƒ 159 million

▲ ƒ 1,7 billion

1.092

Food products
Medicinal Marijuana
Agribusiness

Autonomous Entity

6

Agenzia Nazionale dell'Energia
National Agency of Energy - ANE

San Giovanni, Costa Grande

▼ ƒ 131 million

▲ ƒ 4,5 billion

3.231

Conventional electricity
Utilities

Essential Entity

7

Agenzia di Trasporto Pubblico
Public Transport Company of Montevento

Nuova Firenze, Fiume D'Oro

▼ ƒ 67 million

▼ ƒ 777 mill.

1.182

Bus Transport

Essential Entity

8

Vento Compagnie Aeree
Vento Airlines

San Giovanni, Costa Grande

▲ ƒ 27 million

▲ ƒ 2,8 billion

972

Airline

Essential Entity

9

Operatore Ferroviario dello Stato
State Railway Operator

San Giovanni, Costa Grande

▲ ƒ 11 million

▲ ƒ 5,4 billion

1.721

Railroads
Tram lines

Essential Entity

10

Azienda dei Servizi Nazionale
National Services Company - ASN

San Giovanni, Costa Grande

▼ ƒ -13 million

▲ ƒ 4,7 billion

3.261

Water distribution
Water treatment
Gas distribution
Waste management

Essential Entity


>> CURRENCY

⠀⠀⠀⠀⠀⠀⠀⠀⠀Monteventani Florin⠀⠀⠀⠀⠀⠀⠀⠀⠀
Monteventani Fiorino

General Information

ISO code

MFL

Symbol

ƒ or ƒMV

Banknotes

ƒ1, ƒ2, ƒ5, ƒ10, ƒ20
ƒ50, ƒ100, ƒ200

Coinage

ƒ0.10, ƒ0.25, ƒ0.50, ƒ1

Issuance

Banca Centrale di Montevento

Central Bank of Montevento
The Monteventani Florin has been the official currency of the Most Serene Republic of Montevento since 1877 after it replaced the Monteventani Lira. It is the only currency in force in the country and the only one accepted by the government to make payments and transactions, although the use of other currencies is not prohibited and different companies can freely choose in which currency to offer their services, however, they are all obliged to accept payment in Florins. The Monteventani Florin is regulated and issued by the Banca Centrale di Montevento exclusively.

The Florin is a very stable currency that does not fluctuate too much in its price compared to other currencies over time, with a small inflation rate. The current Florin consists of coins of ƒ0.10, ƒ0.25, ƒ0.50 and ƒ1 and banknotes of ƒ1, ƒ5, ƒ10, ƒ20, ƒ50, ƒ100 and ƒ200. Commemorative banknotes of ƒ1000 and ƒ2000 have been issued in the past and still are legal tender, however, they are very uncommon and unpractical due to their high value.

The Central Bank of Montevento has announced in 2017 that it will not produce any more coins, although their circulation will remain legal until their disappearance.

Since 2002, all Monteventani Florin banknotes have been made of biaxially oriented polypropylene (BOPP), a synthetic polymer. Banknotes made of this material last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement, in addition to incorporating many security features.

In 2020 the Central Bank of Montevento announced the total redesign of all banknotes in circulation, replacing the figure of various important personalities of the country, such as Mauro Spalla and Aronne Bertolotti, with images of animals characteristic of Montevento, in addition to issuing banknotes of ƒ200 for the first time.

The current designs of the Monteventani Florin banknotes are as follows:

Photo

Value

Main colour

Portrait

Series/Year

One Monteventani Florin
Un Fiorino Monteventani

⠀⠀ Burnham

Brazilian Agouti (Dasyprocta leporina)
(Montevento's national animal)

A/1985
B/1993
C/2002
D/2011
E/2020

Two Monteventani Florins
Due Fiorini Monteventani

⠀⠀ Blackberry

Jaguar (Panthera onca)
(The king of the Jungle)

A/1985
B/1994
C/2005
D/2012
E/2020

Five Monteventani Florins
Cinque Fiorini Monteventani

⠀⠀ Tolopea

Lilac-tailed parrotlet (Touit batavicus)
(Common animal in Montevento)

A/1998
B/2008
C/2020

Ten Monteventani Florins
Dieci Fiorini Monteventani

⠀⠀ Verdun Green

Giant River Otter (Pteronura brasiliensis)
(World’s largest and rarest Otter)

A/1980
B/1993
C/2003
D/2011
E/2020

Twenty Monteventani Florins
Venti Fiorini Monteventani

⠀⠀ Midnight

Capybara (Hydrochoerus hydrochaeris)
(World’s largest rodent)

A/1971
B/1984
C/1999
D/2012
E/2020

Fifty Monteventani Florins
Cinquanta Fiorini Monteventani

⠀⠀ Carnaby Tan

Black Caiman (Melanosuchus niger)
(World's largest Alligator)

A/1981
B/2000
C/2005
D/2013
E/2020

One hundred Monteventani Florins
Cento Fiorini Monteventani

⠀⠀ Crater Brown

Long-nosed Armadillo (Dasypus novemcinctus)
(Common animal in Montevento)

A/1993
B/2000
C/2003
D/2009
E/2020

Two hundred Monteventani Florins
Duecento Fiorini Monteventani

⠀⠀ Thunder

Poison-Dart Frog (Dendrobatidae)
(Common animal in Montevento)

A/2020

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