Economy of Kizenia

Economy of Kizenia is a market-based economy, entrenched in capitalist values of private property, profit and liberty of the markets, protected under the 2004 Constitution. The Constitution also provides regulation of the market for fair development of companies, alongside providing social security for the people and provision of revenue for public programs such as taxes or tariffs.

The economy is still in development. One of the main factors is the fact that over 30% of the people live under the poverty line and a small percent of those in extreme poverty. The nation has a steady growth in the economy, with a 2% growth per year. The inflation rate however is above 10%. The unemployment is also a big issue, with over 10% of the populace having no job.

Aside this, the main sector of the economy is agriculture, with 40% of the economy, while industrial sector and service sector make up the rest.

The agricultural sector is mainly made up of individual farmers that produce different cultures like hemp, vegetables, vines and fruits. However due to neglect and foreign competition, the sector is devastated and as such the economy is hampered from growing. Despite the big fertile lands, the potential is lost at the hands of the uncaring leaders, leaving huge ammounts of plains in decay.

The industrial sector is mainly made up of light industry, car manufacturing and industrial machinery. Other industries are petrochemical, pharmaceuticals and metallurgic products. Clothing and textiles is an emerging new industry that promises to enrich the nation GDP. However, due to newer reforms like mass privatization and corruption, many factories closed their doors and many were left to rot. Thousands lost jobs and the industry is never what was once.

The last sector is service sector, a new rising sector that brings hope. The sector is dominated by software and IT, with new skilled workforce in key parts of IT, robotics and science.