Kalistan

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Finance Minister Berry releases Economic Survey Data
Kalistani GDP tops K$4.8 Trillion per annum; maintains surplus
Kaliburg, Grand Duchy of Ananto
October 3rd, 5713


Finance Minister Berry delivers promising economic news in Kaliburg

Her Imperial Majesty's Minister of Finance Dr. Roger Berry delivered a major Economics speech this week in Kaliburg. The gist of the speech was a snapshot of the Kalistani economy at the end of 5713. According to Minister Berry, Kalistan's annual GDP sits at K$4.8 Trillion Imperial Pesos. "This equals a GDP per capita of about K$52,000 pesos annually," said Finance Minister Berry. "We also still maintain about a K$245 Million Peso annual surplus in a K$1.5 Trillion dollar annual budget."

Berry was referring to a longitudinal economic survey that interviewed more than 10,000 employers across the Empire during the last year that requested information on sales, consumer prices, wages, and division of labor. The broad cross section of the Kalistani economy, both nationalized and private sector firms were polled, and the data was aggregated and analyzed between July and September of this year.

"Over all, we found that Kalistanis have a median individual income of K$34,500 a year and a median family income of K$64,000 Pesos a year," said Berry. "We also have very low income disparity: The upper earners earn an average of about 6 times what the lowest earners make, making Kalistan among the most egalitarian nations in the world, in terms of income and wealth. This is something to be very proud of: It vindicates Kalistan's economic policies which aim at ensuring that Kalistanis all have a fair share of the Nation's Prosperity, and that in general the wide disparities of income that plague capitalist nations do not exist in Kalistan."

The lion's share of the Nation's revenue is collected through income taxes, which are steeply progressive on the upper brackets, while regressive taxes, like sales tax do not exist. In addition, due to extensive social safety networks that cover major costs like housing, food and medical care, about half of a normal worker's income is available for purely discretionary spending, allowing Kalistanis to live more comfortable lives because they have more money each month to spend.

"About 40% of the average Kalistani's monthly income is available for discretionary and entertainment spending," said Dr. Berry. "This not only provides a high quality of life for even the lowest earners due to high amounts of disposable income, but also acts as a main driver of Kalistan's service and consumer industries, which in turn are major drivers of the economy as a whole. Who knew that protection against poverty could provide a virtuous cycle for the economy? Who knew making sure that people do not live on the margins so their bosses could become fabulously wealthy could possibly be a good thing? But we are proof that indeed it can."

The survey also covers division of labor, naming Services and Industry as the largest employing sectors. "Of course services represent a large segment of the population," said Berry. "But we are also heavily industrialized, whether it be steel, shipbuilding, auto manufacturing, aircraft manufacturing, or textile production. Kalistan supplies its own market with much of what it needs and has a modest trade volume, primarily regional, that creates a K$107 Billion Peso trade surplus, due primarily to value of Kalistan's finished exports and the imports of less expensive necessities and lower amounts of luxuries." The poll also demonstrated a high labor force participation in the population, a very low unemployment rate, and the average work life of about 33 years on average.

The report demonstrated with data what Kalistanis intuitively already knew. "Quality of life is high across the board, though it is measured and not lavish," said Berry. "When wealth is spread out evenly across the society, more people do well. This runs contrary to what we see in liberal nations, where a few people always do very well, and yeah, workers may earn a few more pesos this year than last year, but they always stand a far higher chance of being wiped out because workers are kept on the margin of abject poverty, so that a couple extra pesos a year feels like a win. In Kalistan, we have economic security, general prosperity and low inequality in our society. These statistics vindicate the Dual System and ZPG which Kalistan has maintained for a very long time. So I think we will keep it."

@TheRepublic