What should Macedonian government do to achieve fast growth of Macedonian GDP?
like they should do that ...
& that...
Answer:
Somewhere Ive red about "the magical 7".
It means that the growth of 10% per year will double the GDP in 7 years and vice versa - the growth of 7% in 10 years.
Macedonian Government (right-center) is doing good - they have achieved the growth of 7% in last 4 months.
Thumbs up.
The worse thing any state can do is try to achieve a too fast growth in GDP. What happens if that is the aim too much debt is encouraged and inflation of the price of rents etc It is far wiser to build and consolidate.
The smartest thing any people can do is to put legal restraint upon real estate speculation then the society can gain real wealth, that is security.
Do not equate the veneer of wealth for a gain in capital. What we are seeing in Australia is a disaster because of real estate investment and speculation. now many people are becoming homeless and losing their means of basic security. America is suffering the same problem. Read Adam Smiths Wealth of Nations.
Fast growth of GDP does not equal gain in wealth, if greater debt for housing is incurred. the result in the end is the debt becomes a fiscal drag upon consolidating growth .Because the debt will outlast the wave of growth.
I suggest that you consider trying to understand geographic and economic regions and put together stratergy that encourages the maximum potential of each region.
See how much internal production can offset imports. And encourage as much as possible good health by encouraging local food production especialy as employment creation.
The true measurement of real wealth is how low the health costs are, how countries manage this by managing public health, will in the end determine how wealthy the society is.
I do not know how Macedonia manages aged care, but I suggests that all states take stock of this problem, by auditing land etc for aged care so that it is out of the property price rises, in other words out of the market. this ensures more money is available to local markets. Any means that supports local economies supports GDP.
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