A class of “unnecessary” people – how will our lives change
By 2020, the development of technologies will reduce the number of workplaces in the world by 5 million and will lead to the emergence of “unnecessary” jobs, informs “Investor”. Read more
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Instructions for action: Hungary’s reforms (Part 4)
In 1987, in Hungary, a two-level banking system with an autonomous central bank and commercial banks that were able to compete was introduced. In 1988, modern taxation was introduced, including income tax and value added tax. In 1995, direct foreign investment amounted to 4.5 billion dollars. However, in 2008, the state budget deficit increased to 8%, and the country became Read more
Instructions for action: Estonia’s reforms (Part 3)
In Estonia, inflation was over 1000% in 1992, and production fell by as much as 45%. Due to lack of fuel a plan for evacuation of urban residents to the countryside was developed. However, in 1995, inflation dropped to 29%, and in 2006, the country’s economic growth was 12%. The standard of living exceeded the average in Europe, reports “Investor”. Read more
Instructions for action: Bulgaria’s reforms (Part 2)
In 1997, a salary in Bulgaria was 10 dollars, and a pension was 2 dollars, and the country literally flooded the wave of organized crime. However, in 10-11 years Bulgaria has completely changed. Gross domestic debt declined from 112% to 17%, salaries increased to 500 dollars, and pensions – up to 250 dollars, reports “Investor”. Read more
Instructions for action: Slovakia’s reforms (Part 1)
In the early 1990s, Slovakia was a corrupted and extremely poor country. In 1994, it was denied entry to the Organization for Economic Cooperation and Development and the European Union. However, in 2002, it became the European leader of reforms and the “economic tiger of Eastern Europe”, reports “Investor”. Read more
Instructions for action: Reforms in post-communist countries
Time shows that only successful reforms can provide sustainable development. Moreover, one cannot run away from reforms: it be done sooner or later. Instead of reinventing the wheel, we can use the experience of other, more successful reformers, writes “Investor”. Read more