[MoPR] May 2010 - Norwegian Economy
Day 923, 12:51
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Published in Norway 
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by
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by Pressekontoret
This is the May report on the economy of eNorway. The previous month has been a rather stable one in most economic aspects. While some uncertainty was connected to the reduction on VAT for all products on May 18, the market seems to have responded well and the the national income seems to be more or less unaffected by the lowered taxes.
Previous update: April 2010 - Norwegian Economy
Ministry of Finance
Minister of Finance: Duke Jim the Understanding
Vice Minister of Finance: Endors
The NOK Currency
It has been a goal for the government to keep the exchange rate at 0.012 gold for 1 NOK to allow an affordable monetary market and avoid speculation of our currency. This goal has been achieved during May by sending NOK 100,000 back from country treasury into the monetary market without the printing of new currency. Throughout the month, the exchange rate has been on a stable 0.012-0.013. As the amount of NOK available has decreased, a proposal to issue a fresh NOK 100,000 is currently being voted over in congress.
Military spending
Forsvaret
During May, a total of 250 gold has been transferred to Forsvaret to fund weapons for Forsvarets Spesialkommando (FSK) and Heimevernet (eHV). This included the funding for last week of April. Forsvaret has a budget of 50 gold per week.
http://img3.imageshack.us/img3/5605/forsvaret.png">
EDEN
eNorway made a considerable contribution to EDEN compared to our size this month. First with a payment of 258,8 gold on May 2, and then a 200 gold transfer on May 24. Keeping the efforts up during the world war is costly to our alliance, hence the need of a stronger economical commitment from the member countries than usual.
MPPs
Signing a mutual protection pact (MPP) costs 100 gold per treaty. A total of 500 gold has been spent to renew alliances with Greece, Spain, Romania, Croatia and USA.
Other expenses
To provide food, gifts and the NOK 20 signup stipend for new citizens, Immigrasjonsverket has been funded with an additional NOK 500 this month.
http://img15.imageshack.us/img15/9260/immigrasjonsverket.png">
Economical status
This has been a good month for eNorway, both in terms of national income and market activity.
Country treasury income
The national income to the country treasury comes from NOK paid in income taxes, import taxes and VAT. The reduction of value added taxes (VAT) to %1 on May 18 for all products seems to have had little effect on the daily income. The daily average for May is NOK 1386.
http://img686.imageshack.us/img686/7744/1005enorwayincome.png">
The graph shows the daily income of NOK to the country treasury.
Gross Domestic Product (GDP)
The health of the national economy can be represented by the GDP. The calculation of the GDP takes the investment in companies as well as the sales made by these companies into consideration. See the eRepublik Wiki for the exact formula.
http://img155.imageshack.us/img155/5485/1005enorwaygdp.png">
The GDP for eNorway shows a significant growth in the last part of the month
Wages
The purchase powers of Norwegian employees can be represented by the development of the average wage gold value. The minimum wage is NOK 2.00 - the variations in gold value are directly affected by the monetary market exchange rate.
http://img295.imageshack.us/img295/5641/1005enorwaywages.png">
While periods of higher exchange rates affects the salary gold value, the May trend shows a significant positive development in wages for Norwegian employees.
Population
The total population of eNorway is steadily decreasing. Part of this development is due to the increased effort from administrators to seek up and suspend multi accounts. But there is an suggested trend that we experience a population leak also from active citizens. The drop towards the end of the month is caused by the region swaps with Sweden and Poland.
http://img241.imageshack.us/img241/3861/1005enorwaypopulation.png">
The graph shows the development of population in total for all citizens living in Norway, regardless of citizenship.
Previous update: April 2010 - Norwegian Economy
Ministry of Finance
Minister of Finance: Duke Jim the Understanding
Vice Minister of Finance: Endors
The NOK Currency
It has been a goal for the government to keep the exchange rate at 0.012 gold for 1 NOK to allow an affordable monetary market and avoid speculation of our currency. This goal has been achieved during May by sending NOK 100,000 back from country treasury into the monetary market without the printing of new currency. Throughout the month, the exchange rate has been on a stable 0.012-0.013. As the amount of NOK available has decreased, a proposal to issue a fresh NOK 100,000 is currently being voted over in congress.
Military spending
Forsvaret
During May, a total of 250 gold has been transferred to Forsvaret to fund weapons for Forsvarets Spesialkommando (FSK) and Heimevernet (eHV). This included the funding for last week of April. Forsvaret has a budget of 50 gold per week.
EDEN
eNorway made a considerable contribution to EDEN compared to our size this month. First with a payment of 258,8 gold on May 2, and then a 200 gold transfer on May 24. Keeping the efforts up during the world war is costly to our alliance, hence the need of a stronger economical commitment from the member countries than usual.
MPPs
Signing a mutual protection pact (MPP) costs 100 gold per treaty. A total of 500 gold has been spent to renew alliances with Greece, Spain, Romania, Croatia and USA.
Other expenses
To provide food, gifts and the NOK 20 signup stipend for new citizens, Immigrasjonsverket has been funded with an additional NOK 500 this month.
Economical status
This has been a good month for eNorway, both in terms of national income and market activity.
Country treasury income
The national income to the country treasury comes from NOK paid in income taxes, import taxes and VAT. The reduction of value added taxes (VAT) to %1 on May 18 for all products seems to have had little effect on the daily income. The daily average for May is NOK 1386.
The graph shows the daily income of NOK to the country treasury.
Gross Domestic Product (GDP)
The health of the national economy can be represented by the GDP. The calculation of the GDP takes the investment in companies as well as the sales made by these companies into consideration. See the eRepublik Wiki for the exact formula.
The GDP for eNorway shows a significant growth in the last part of the month
Wages
The purchase powers of Norwegian employees can be represented by the development of the average wage gold value. The minimum wage is NOK 2.00 - the variations in gold value are directly affected by the monetary market exchange rate.
While periods of higher exchange rates affects the salary gold value, the May trend shows a significant positive development in wages for Norwegian employees.
Population
The total population of eNorway is steadily decreasing. Part of this development is due to the increased effort from administrators to seek up and suspend multi accounts. But there is an suggested trend that we experience a population leak also from active citizens. The drop towards the end of the month is caused by the region swaps with Sweden and Poland.
The graph shows the development of population in total for all citizens living in Norway, regardless of citizenship.
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Comments
Very good job, vote
excellent article!
voted!
Nyyydelig! Det er jo nesten så en får lyst på å følge med jo hahaha
Vote, good job!
voted
nice done, voted