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Hello Ireland,
in this article I’m presenting you the work Ministry of Finances has been doing the last term. You’ll be informed about what we’ve been doing to make money, where was the money spent and what’s our current financial situation.



INCOME

There’s been four main sources of the income in eIreland last month:

Taxes - We’ve lowered our taxes in order to help our home producers make a better profit and to encourage the Irish industry to produce and sell for itself, the prices has remained low, one of the lowest considering the size of our country. Producers could’ve make enough money and thanks to our move from Commune to Non-Commune system in Irish Army our average wages has raised for a lot which enabled us getting decent income through the taxes.

Work Tax - 1%
VAT - 1% for weapons and food
Income tax - Significantly higher than before
Other taxes has been only slightly modified

Total amount of money country made through taxes (Days 2633-2661) = 25462 IEP

Schemes - By buying and selling products, using game mechanics, doing lots of work both ingame and out of the game and obviously things I wouldn’t actually want some other countries to pick up we’ve made a significant profits too. Total amount of money country made through schemes (Days 2638-2661) = 40214 IEP

IA money return - Considering the new Non-Commune system within the Irish Army I’ve decided to represent this as one of our incomes, even though it’s actually loss, we’ve been sending Irish Army tanks and they’ve been sending us part of the money spent for the tanks back. Total amount of IEP return from Irish Army + expected return tommorow = 33600 IEP

Monetary Market - We’ve managed to sell around 250 000 IEP in exchange rate of 0,005 golds per 1 IEP which made us a decent profit of around 100 golds which makes it 22000 IEP. I’m not particulary happy with the amount of money made this way since my expectation were a lot higher, but due to stability of MM and really bad buybot this is the best we could do. A total of 24 orgs has been used to make this profit with huge amounts of money spread all overe them. Total amount of IEP made through Monetary Market = ~22000 IEP





EXPENDITURES

There’s been several different expenditures, we’ve been spending on the things we felt like it could be good for this country long termly while taking care we don’t put our total money under the risk. I believe we’ve been spending rationally and did everything possible to lower the spendings.

Mutual Protection Pacts - We’ve signed only five MPP’s because there’s been plenty of signed ones before the term has started so there was no need for any more, two out of these five has been signed in this term. We’ve been signing MPP’s with Croatia, Russia, USA, Canada and Macedonia.

Money spent on MPP’s (Day 2638-2662) = 50000 IEP


Irish Army funding - Please note before reading expenditure for Irish Army that they’ve returned 33600 IEP of the expenditures we’ve made there. Also, the first four days we’ve been using the old Commune system which costed our treasury significant part of total costs for IA. In those first four days we’ve payed IA bills for amount of 16214 IEP. Until the end of the term we’ve spent 42309 IEP for IA tanks from which they’ve returned already mentioned 33600 IEP. This is just a proof of how well the new Non-Commune system actually work. The initial budget was 20000 IEP so we’ve kept our heads a lot below the budget ( 11291 IEP below the budget ). The rest of the budget shall be kept in the treasury.

Money spent on Irish Army = 58523 IEP


Training Ground Upgrade Project - Unfortunatly only several Irish citizens have applied for our training grounds project, we’re either too rich or too inactive, but considering the amount of publicity the article has recieved I’d say we’re too rich. A total of 150 golds has been shared with applicants over the two days, those who applied before the deadline of the first giveaway day has recieved 20 golds and those who has applied after the deadline has recieved 10 golds. All in all, 150 golds makes ~ 33000 IEP

Money spent on Training Grounds = 33000 IEP






TOTAL AMOUNT OF ALL INCOMES:
121276 IEP

TOTAL AMOUNT OF ALL EXPENDITURES:
141523 IEP

(EXPENDITURES - PROFIT) LOSS:
20247 IEP

ACTUAL PROFIT SINCE LAST TERM:
~35 000 IEP

The loss made by calculating isn’t the real loss (Expenditures - Income) because we’ve made some extra money over with the rate changes over the time. Example: I’ve sold plenty of gold for 215 IEP and bought it again for 203 IEP. It happened few times, but I can’t really track how much money we’ve made this way.

CURRENT AMOUNT OF MONEY HELD IN OUR ACCOUNTS EXPRESSED IN CURRENCY WITH EXCHANGE RATE OF 218cc per 1 gold AND 1q7 = 6,20 IEP:
1 958 590 IEP

*Money is being held in: Weapons, gold, currency, monetary market and treasury.


Personal comment:

I’ve expected more and there would be more profit if things has been going our way as expected. Unfortunatly due to low activity of buybot and some other important things we haven’t finished term in profit, but we’ve spent our money rationally. Please notice that we’d actually end up in profit of about 20000 IEP if the recent two MPP’s of this term haven’t been calculated in this article.

My biggest dissapointment was being too busy with Monetary market which didn’t brought us more profit, considering the hours invested in it I honestly expected much more. Also, the second dissapointment was not having enough time for tutorials “How to make money” I’ve promised the last term.