Economy of Juclandia

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Economy of Juclandia
CurrencyJuclandian avo
Fiscal yearCalendar year
GDP1,025,420 J£ (2014)
GDP growth-2.9% (2014, real)
-13.78% (2014, nominal)
GDP by sectoragriculture: 4.4%; industry: 28.3%; services: 67.3%
Inflation-10.23% (Jan 2015, CPI)
Gini coefficient0.12 (Jan 2015)
Labour force159+17 (est. Feb 2015)
Average net salary410.25 J£ (Jan 2015)
Main industriesfood processing, construction, timber, software, energy, telecommunications, mass media, water industry
Export goodsfruits and vegetables, cereals, manufactured products, food
Main export partners European Union 100%
Import goodsmachinery and equipment, computational technology, textiles and footwear, chemicals, agricultural products, natural gas, minerals and fuels
Main import partners European Union 100%
Public finances
Public debt0% of GDP (Apr 2015)
Budget deficit0.32% of GDP (2014)
Revenues317,248 J£ (2014)
Expenses320,530 J£ (2014)
Foreign reserves€325 (Jucărești Government Treasury only)
All values, unless otherwise stated, are in Juclandian leu

The economy of Juclandia is run as a weakly-regulated mixed economy, in which cooperatives play a central role, accounting for 59.6% of the Gross Domestic Product (2014). Along cooperatives, there are also state-owned enterprises and private companies. Most enterprises are owned by the twelve economic cooperatives of Juclandia, but the state owns several crucial companies in sectors deemed by the Constitution to be state monopolies.

In Juclandia, cooperativism plays a very important role, and the influence of these establishments can be seen not only in the national economy, but also in politics, culture and society. Juclandia's economic and cultural norms are based on a principle of balance between the individual, the cooperative and the state. This system has been introduced by the government of Prime Minister Iepurica Democrescu in November 2012, as a way to reduce the size of the state. Initially acting as trade unions, Juclandia's cooperatives gained most of the state's enterprises that did not constitute state monopolies, after a privatisation program in 2013 and 2014 by Prime Minister Teddy Populescu. While the cooperatives are run under the principle of workers' self-management, they compete on the market and their ultimate goal is to gain profit.

Juclandia's public services, such as healthcare, education and public transportation, are not run for profit and are run under a special partnership between the state and the cooperative and private sectors. There is a special system for the production and distribution of food in Juclandia: the only food-processing plant in Juclandia is owned collectively by the twelve cooperatives and every citizen benefits from a basic food allowance every day. Food that is considered non-basic is freely traded on the market.

In 2015, Juclandia abolished all taxes. The government relies on cooperative contributions to the public services and on profit from the state-owned enterprises in order to gain revenue.

See also