Economy of Sancratosia

Economy of Sancratosia
Banknotes of the Sancratosian impresa
Currency	Impresa (SNI, )
Fixed exchange rates	CAD 1$ = SNI 2
Fiscal year	Calendar year
Statistics
GDP	SNI 9 450◊ (2022)
GDP per capita	SNI 196◊ (2022)
External
Exports	SNI 50◊ (est. 2022)
Export goods	arts and antiques paper goods
Imports	SNI 1 600◊ (est. 2022)
Import goods	foodstuffs instruments miscellaneous paper goods textiles
Main import partners	Canada United States
FDI stock	SNI 0◊ (2022)
Public finances
Reserves	SNI 220◊ (2022)
Budget deficit	SNI 0◊ (2022)
Revenues	5% of GDP (2022)
Expenses	90% of GDP (2022)
Economic aid	SNI 0◊ (2022)
Foreign reserves	SNI 0◊ (2022)
All values, unless otherwise stated, are in SNI

The economy of Sancratosia is largely reliant on public spending from the government and more specifically on the personal finances of the House of Sancratosia which is heavily involved in the financing of the Principality.

Overview

Sancratosia does not have a sustainable economy. The Principality is entirely dependant on the personal fortune of the House of Sancratosia.

Economic production in Sancratosia consists mostly of hand-made products and service industries. The Principality have very few exports and imports almost all of its products. The Principality's main export is postage stamps.

Public spending plays an important role in the development of the Principality.

Taxes

Sancratosia has a 25% value-added tax (VAT) on most goods and services. Prices are normally presented with the included VAT. There is no income tax on citizens.

Legal interest rate

As of 1 September 2023 (2023-09-01), the legal interest rate is set at 5%.

Public finances

See also: National budget of Sancratosia

Public financing occupies a large part of the economy of Sancratosia. Public spending represents about 90% of the GDP of the Principality.

Being a relatively new nation, Sancratosia is investing a lot in the development of its government.

State's revenues are almost exclusively coming from a personal contribution by the House of Sancratosia.

Commerce

Commerce is exercised by both private and publicly owned companies, as well as non-profit organisations. State corporations are government-owned companies which have for-profit operations. Private companies can be divided in many types with varying levels of responsibility. Associations are organisations which cannot register a profit but that are exempt from imposing VAT on what they sell to sustain their functioning.

Most entities must be registered in the Registry of Legal Entities, a registry managed by the Department of Development under the Ministry of Economy.

On 30 November 2022 (2022-11-30), Chez Chloé became the first registered company in Sancratosia.

State corporations

• Cuatrida Airlines
• Difusa Sancratosia
  • Radio Sancratosia
  • La Ganso Coronada
  • Prima Canal
• Posta de Sancratosia
• Saluta Sancratosia

Private companies

• Chez Chloé
• RBR Sancratosia
• Rombo

Associations

• Provaluas

See also

• Budget of Sancratosia
• Ministry of Economy

External links

• Page about commerce on the official website of the Principality of Sancratosia