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TimothyHughes Offline



Beiträge: 8

26.07.2024 09:51
Economy of Sierra Leone Antworten

Sierra Leone is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Sierra Leone may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Sierra Leone exports around $1.56 billion and imports roughly $1.64 billion. 4.5% of population in the country are unemployed. The total number of unemployed people in Sierra Leone is 347,388. In Sierra Leone, 70.2% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Sierra Leone is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 4.3% of GDP. The Gini Index of the country is 62.9. Sierra Leone is experiencing bad inequality. The gap between the richest and poorest citizens in this country is plainly obvious and highly significant, resulting in a dramatically different standard of living for rich and poor citizens. Sierra Leone has a Human Development Index (HDI) of 0.374. Sierra Leone has a lower medium HDI score. This indicates that the majority of citizens will struggle to attain a desirable life due to flawed economic and social systems. The Global Peace Index (GPI) for Sierra Leone is 1.864. Due to strong law enforcement presence and high social responsibility, Sierra Leone is very safe by international standards. The strength of legal rights index for Sierra Leone is 5. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.

Currency
The currency of Sierra Leone is Sierra Leonean leone. The plural form of the word Sierra Leonean leone is leones. The symbol used for this currency is Le, and it is abbreviated as SLL. The Sierra Leonean leone is divided into Cent; there are 100 in one leone.

Credit rating
The depth of credit information index for Sierra Leone is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible.

Central bank
In Sierra Leone, the institution that manages the state's currency, money supply, and interest rates is called Bank of Sierra Leone. The average deposit interest rate offered by local banks in Sierra Leone is 6.6%.

Public debt
Sierra Leone has a government debt of 60.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Sierra Leone is set at 30%. Personal income tax ranges from 30% to 35%, depending on your specific situation and income level. VAT in Sierra Leone is 15%, and it is known as Goods and Services Tax.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Sierra Leone is $12799 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Sierra Leone was last recorded at $2 million. PPP in Sierra Leone is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Sierra Leone is 4,929 billion. Based on this statistic, Sierra Leone is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Sierra Leone was last recorded at $1 million. The average citizen in Sierra Leone has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Sierra Leone averaged 8% in 2014. According to this percentage, Sierra Leone is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health.

https://www.confiduss.com/en/jurisdictio...-leone/economy/

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