Economy and Monetary System

Cristina has a highly developed market economy, based historically on extended entrepôt trade.

Cristinese economy is known as one of the freest, most innovative, most competitive, most dynamic and most business-friendly. Worldwide Index of Economic Freedom ranks the Free Port of Cristina in top five freest economy in the world and one of the easiest place to do business for the past decade.

Cristinese economy is diversified, with its top contributors – financial services, manufacturing, shipping. Its main exports are arms, integrated circuits and computers which constituted 30% of the country's GDP in 2017, and includes significant electronics, arms manufactoring, chemicals, mechanical engineering and biomedical sciences sectors. In 2016, Cristina produced about 10% of the world's foundry wafer (such as crystalline silicon) output.

Cristina has maintained sound economic and trade relations with more than 100 countries; The World Bank classifies Cristina as a high income economy and the GDP per capita of the region is US$$76,003. After the country independence, there has been a rapid rise in the number of mainland visitors due to the Queen Nova's programs on easing of travel restrictions. Together with the liberalization of Cristina's gaming industry two years ago, that induces significant investment inflows, the average growth rate of the economy in the last three years was approximately 3.7% annually.

The Kingdom of Cristina is an offshore financial centre, a tax haven, and a free port with no foreign exchange control regimes. The Monetary Authority of Cristina regulates offshore finance, while the Cristinese Trade and Investment Promotion Institute provides services for investment in Cristina. In the last year, Moody's Investors Service upgraded Cristina's foreign and local currency government issuer ratings to 'Aa3' from 'A1', citing its government's solid finances as a large net creditor. The rating agency also upgraded Cristina's foreign currency bank deposit ceiling to 'Aa3' from 'A1'.

As prescribed by the Cristinese Basic Law, the government follows the principle of keeping expenditure within the limits of revenues in drawing up its budget, and strives to achieve a fiscal balance, avoid deficits and keep the budget commensurate with the growth rate of its gross domestic product.

The official currency of Cristina is the digital Linda (ISO code: DL), and the central bank is Royal Bank of Cristina. The Cristina Stock Exchange (CEX) is the only stock exchange in the country, with market capitalization of roughly $550 billion (as of last year) and CEX10 as the main index representing the 10 most liquid stocks.

Cristina has one of the lowest unemployment rates among developed countries. Active labor force at the end of the last year stood at 4.55 million, of whom 59.6% are employed in services sector, 23.9% are employed in the industry and 16.5% are employed in agriculture. The average monthly net salary in june 2015 was DL925.10 (US$2,915.50).

Since it's independence, Cristina has attracted over $980 billion in foreign direct investment (FDI). Blue-chip corporations making investments in Cristina include many of greatest world corporations that have made large investments.

Cristina's largest companies are in the telecoms, arms, banking, transportation and manufacturing sectors, many of which started as state-run enterprises, and has since been listed on the Cristina Stock Exchange, including Cristina Telecommunications (CrisTel), Cristina Technologies Engineering (CTE), Korvini Corporation, Cristinese Inovative Solutions (CIS), Development Bank of Cristina (BSC). The Limonaian United Overseas Bank (UOB) also has its headquarter in Cristina.

The nation's best known global brands include Cristina Airlines, Siena Fleet System (SFS), Korvini Corporation, Cristina Arms Solutions (CAS) and Port of St. Izabella Co, all of them are amongst the most-awarded in their respective industry sectors.

The country has free trade agreements with many countries in the region, and a preferential trade regime with the Fleur de Lys, Limonaia, Magnaeus, Prymont, the Sunset sea islands and Adaptus.

Cristina has also one of the world's highest percentage of millionaires, with one out of every ten households having at least one million US dollars in disposable wealth. This excludes property, businesses, and luxury goods, which if included would increase the number of millionaires, especially as property in Cristina is among the world's most expensive. Cristina does not have a minimum wage, believing that it would lower its competitiveness. It also has one of the highest income inequalities among developed countries.

Social and Economic Council

---

This committee was established in 2005 under the Free Port Act to advise the Minister of Economy and Finance, the Minister of Urban Planning and Tourism and the Minister of Foreign and Internal Trade and Telecommunications on any matter concerning the country’s economic situation. This covers areas such as social, financial, touristic, commercial and industrial order.

Any law pertaining to the above sectors is also submitted to the Council by the Government for discussion.

The Council is made up of thirtythree members nominated by the King or Queen for a period of three years. Eleven members are recommended by the Government, eleven members are chosen by the Government from a list of twenty which is drawn up by the Unions, and the last eleven members are chosen by the Government from a list of twenty drawn up by the Cristinese Chamber of Industry and Commerce.

The president and two vice-presidents are chosen by the King or Queen from these thirty three members. The current President of the Social and Economic Council is the Economics Teacher Ms. Ying Gelsomino.