Financial Wealth Ideas

Indicators of economic growth in the region varied over the past three decades, from 8.4 per cent in 1973 to 2.2 percent in 1983. As a result, GDP per capita grew at an average of only 1 per cent a year - from 2827 U.S. dollars in 1972 to 3819 USD in 1999. Economic growth in 90 years, was made possible through major reforms, referring in particular trade and investment liberalization. Integration process, including the conclusion of free trade agreements and the formation of customs unions have begun to pay dividends. However, most of the region, except for a few, have proved unable to restore its economic level, available to the 80-ies, and in general over the past 30 years, the region experienced only modest growth. The basis of exports are still mainly consumer goods and raw materials, especially petroleum and petroleum products, minerals fossils, the products of agriculture and forestry. In this regard, the traditional vulnerability of the region and its external dependence is further increased due to the fragility of economic activity stemming from the volatility of markets and limited natural resources. In many countries, imports continue to grow faster than exports. The level of inequality in the region is the highest in the world, continuing to grow in all subregions. The region as a whole, the minimum wage in 1998 was on average 28 percent lower than in 1980. Limited opportunity for job creation associated with the peculiarities of the region's economy, and the fact that as a result of increased demand for labor in the most benefit people with higher education are the possible causes of the continuing concentration of income, although the main reasons for this phenomenon is still debated.