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Volkia: Difference between revisions
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[[File:Korona Symbol.png|thumb|right|150x150px|The [[Volkian korona|korona]] (Ӄ) is the official currency of Volkia.]][[File:Izumrud.jpg|thumb|left|200px|Izumrud is a major shipping port of Volkia.]]Volkia has a {{wp|mixed economy}}, which has resulted in a prosperous capitalist {{wp|welfare state}} with a combination of {{wp|free market}} activity and large state ownership in certain key sectors. This was influenced first by liberal and socialist governments in the late 1920-30s and fully implemented by [[Social Democratic Union|Social Democratic administrations]] starting in 1972. Public healthcare is free and parents receive 40 weeks of paid parental leave. Volkia also guarantees its workers a minimum of 30 days paid vacation (20 paid days off, 10 public holidays). The unemployment rate is 3.4%, with 66% of the population aged 15-74 employed. Nearly 8% of the population aged 18-65 receives a disability pension and 25% of the labor force are employed by the government. The vast majority of workers are unionized, totaling nearly 73% of the labor force in 2020.
The wage difference between the lowest paid worker and the CEO of most companies has been kept relatively low compared to other industrialized economies due to Volkian society's {{wp|egalitarian}} values. The federal minimum wage was raised to Ӄ30.00 an hour ($15.00 SHD) in early 2020, and many of Volkia's provinces have minimum wages that exceed the federal standard. Olyutorsk Oblast has the highest minimum wage, with a 2021 provincial law setting it at Ӄ37.50 an hour ($18.75 SHD). Volkia has a progressive federal income tax rate with relatively complex tax laws, with much of the tax burden falling on corporations and the highest individual earners. Most provinces levy income tax as well, but are typically significantly less than the federal tax rate. Some provinces, such as Kologorsk Oblast, Orlik Oblast, and Yekartovsk Oblast, have no provincial income tax.
Volkia has a highly skilled {{wp|workforce}}, low levels of {{wp|corruption}}, and a relatively high level of innovation. The service sector contributes approximately 68% of the total GDP, industry 30.5%, tourism 1.8%, and agriculture 1.5% as of 2019. Volkia holds significant {{wp|timber}}, mineral ({{wp|iron}}, {{wp|chromium}}, {{wp|copper}}, {{wp|nickel}}, and {{wp|gold}}), and freshwater resources. Forestry, paper factories, agriculture, and mines are important for rural residents and the national economy. The [[Greater Volkgoroda]] area generates nearly 10% of Volkia's GDP.
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