COUNTRY REFLECTION : AG ECONOMIC

Mira Aryuni

1.     Belize

            Belize is a country located in central of America. This country has a capitalistic economy. It means the economy system based on private ownership. The primary economy sector included agriculture, tourism and services. The GDP was 1.77 with 2.8% growth per year. The unemployment degree was 8%. These things lead Belize in lower position in Americas region which is at 23. Economic reform Belize more dynamic growth is constrained by lingering policy and institutional weaknesses in many parts of economy.

2.     Norway

            Norway is a small country in Europe. The economic system is a developed mixed economy with state-ownership in strategic area. Norway got most inclusive advanced economics in the world. In this country, it has lower income but the government provided with education and innovation. Furthermore, this country is an oil supplier. This country has GDP above the average. Other countries need to learn from Norway

3.     Venezuela

            Venezuela is a country in South of America. The economy system is mixed with petroleum as main sector. In 2 years back, Venezuela got shrunk. The Inflation reach number 647% following by household income about $ 6000 per year.  The GDP decrease to 16% in 2016 and 14% in 2017. Many Venezuelan started leaving their country to neighborhood. This worse situation also causes major problem for private sector. Many big companies are thinking to stop operating in Venezuela.

4.     North Korea

            This country is using socialist economy where characterized by social ownership and operation of the means of production that may take the form of autonomous cooperatives or direct public ownership where in production is carried out directly for use. The GDP was 28.5 Billion with sales tax 15%. The corruption level 171 points means people work hard but don’t get good pay. Based on economy, this country lower than south of Korea. The Government is very dictator.  They claim they do best but in reality, they don’t.

5.     Guinea

            Guinea is 29^th of 47^th position in Africa based on economy. This score is still below world average. This country has improved in fiscal health, property right. The threats in Guinea are unstable politic, Ebola and low price. The corruption also makes Guinea’s economy worse. Since only man allowed to go school, this country will lack of human resource in the future.  Their GDP represent 0.1 world economy.