Economy of Rutania

UNDER CONSTRUCTION

=Overview=

=Composition=

Tourism and Entertainment
=Notable Companies=

=Energy= Rutania currently derives about 80% of its energy from fossil fuels; 30% of is from petroleum, 28% comes from natural gas, 22% is from coal. Renewable energy and nuclear making up the remaining 20%; 8% comes from wind, 6% is solar and 5% is generated through hydroelectricity. Nuclear energy accounts for the remaining 1% of energy as Rutania has been uneasy on the idea of nuclear energy. Though nuclear energy has been banned, plants built before the banning are allowed to continue operation.

Energy Production
As of 3352, this is the generation of energy within Rutania.

=International Trade=

Finance
=Currency and Central Bank= The Rutanian Ruta is the unit of currency of Rutania. The Ruta is among one of the most used currencies in international transactions and is considered a reserve currency due to its value. The government uses both monetary and fiscal policy to maintain low inflation, high economic growth, and low unemployment and operates a private central bank, known as the Rutanian Central Bank.

Rising national debt caused some to believe the Ruta will lose its status as a reserve currency, however these predictions have not come to fruition and are likely to be avoided.

=Government=

Debt
As of April 3353, debt held by the public was $91.86 billion RUT, roughly 33% of the current GDP. The public debt has decreased at total of close to 96 billion since fiscal year (FY) 3271, when it reached it's highest peak of 187.8 billion RUT. In response to the debt, the government decided to start paying down the debt in order to avoid financial catastrophe.

Close to 98% of of the debt is can be traced back to the 3100s when the country was involved in 5 wars (the costliest being 78 billion RUT), operated New Englia as a colonial possession and engaged in various public spending ventures including buying new equipment for the nation's military. None of the things mentioned were paid for and eventually led to an increase in the national debt which was nominal at the time.

The government pays down it's debt at the beginning of a new fiscal year (April 1) with the budget surplus for that particular month. At the current pace, the debt is likely to be paid off in about 12 years, provided any unforeseen events occur within that given time frame.

Taxation
=Links= Rutania