A CRITICAL ANALYSIS ON THE MACROECONOMIC DATA OF MONACO CIA-PART 2
Monaco is the second smallest country with high density of population. Monaco is a very developed country, with a high growth and importance given to science and technology .When we look into the macroeconomic conditions, Monaco has a very stable and a very positive conditions. As we have seen in the previous report on the GDP, inflation and unemployment rates past ten years,there is been a fluctuation only during the recession in the year 2009-2010.
Real Gross domestic product
The below-given graph gives us an idea about a growth of a nation, which is calculated by calculating the GDP of the nation. It is a macroeconomic indicator which calculates the data annually…show more content… There was a huge euro zone crisis which fluctuation in the GDP, inflation and unemployment rates. This crisis hit tourism, retail and home sales . The economy in this year had a serious setback , after this the government had to take up good and progressive policies .They looked up on their tax policies and mainly on the service sector as it is one of the major sector of contribution for the country . Another major attraction of the country is the tourism field , according to one of the study conducted developing tourism ,can be very helpful and can bring a very positive conditions . Developing this sector can help is complete change in the economy , though the support is now on science and technology in the country .This will have a high impact . The employment rates are also very positive in Monaco .According to one of the recent studies and census, Monaco has a literacy rate of about 100% . Though they had to face the Euro crisis ,they tried the best and brought in modest recovery in the economy by 2010 . By this they focused more for their economic growth after a downfall and they were officially removed from the “grey list” of OECD’s list . Another major international pressure they faced was regarding their tax policies and bank secrecy . One of the other major fact of Monaco is that they have a very healthy economy ,most of the population is rich and since they are one of developed countries ,they have a very well managed economy ,social and political conditions. Though Monaco is a tax free nation , the have a well managed economy. GDP of Monaco is a major factor as GDP gives an idea of the national income and a total view not just one part of the economy , one can examine the whole economy .Monaco being of the developed nations with a very well managed political status ,they have no much complications in the economy ,but still