2 November 2017Government issues vouchers to battle economic woesVouchers expected to contribute two percent growth to economyНаморайин |
English
Minister of Economic Development Chen Kangvang (left) said government-issued
vouchers will be made available to citizens and permanent residents of Namor
on November 10
Namo - The Namorese government issued consumer vouchers as part of its stimulus program, a move that it says will increase consumption and prevent Namor's contracting economy from tumbling into recession. The Ministry of Economic Development says over P931 billion (133 billion USD) in consumer vouchers are being distributed to recipients across the country. Recipients not only include Namorese citizens, but non-citizens permanently residing in Namor. Each citizen is entitled to P1010, or 145 USD, in vouchers.
Announcing the release of the vouchers, Minister of Economic Development Chen Kangvang said the vouchers are expected to contribute up to two percent growth to Namor's GDP, which contracted for the first time in over three decades in the last quarter.
"We are optimistic that these vouchers will spur consumption. Consumption, along with job regrowth and a rebound in foreign investment, will grow our economy," Chen told reporters.
All recipients have already been notified of their eligibility to receive vouchers by mail. They may pick up their vouchers at the nearest post office starting November 10, 2017.
Citizens of Riro, who will automatically obtain Namorese citizenship in January 2018 when the state joins Namor, will not be part of the voucher program, Chen said.
OP-ED Namor, we got this
President-General Antelope Shohai argues that the administration is determined and resourceful enough to tackle challenges ahead
President-General Antelope Shohai
Namo - "No nights last forever," a legendary sage-poet once wrote. As our nation confronts major difficulties unseen since the 1980s, it is important that all of us keep this saying in mind.Namorese everywhere are not complacent with what's going on now. Despite successful efforts by our citizens in uniform, with the support of the public, to rescue countless lives that were almost swept away on June 10, many of us are still feeling the effects of the deadliest tidal wave in Namor in over two centuries. Almost five months after that tragic day, the People's Republic is on the move once more, but it is clear from the statistics that not everyone feels this nation is recovering. More alarming still is the fact that not everyone feels recovered themselves.
I'm writing this as I return to the Executive House from my second visit to the wave-struck beaches of Tuhao and Khao. In both visits, I witnessed a lot of destruction, from fallen trees to abandoned factories. But I also witnessed one of the most beautiful sights in life — the sight of human beings helping each other, setting aside whatever differences that may have kept them apart to rebuild the nation we all belong to. From Tojav to Kenyen, millions of people vowed not to stop helping their neighbors, siblings, and cousins until everyone is back on their feet.
These sights have given me the courage to report to you — in my capacity as the highest elected representative of the Namorese people — that
we got this.
In the face of a national disaster, you have proven yourselves to be a nail that cannot be hammered into submission. I want you to know that in 2015, you elected a team that is equally prepared to face any challenges along the way. Some of us are Liberationists who have worked to turn our country from an economic backwater into a metropolis in the developed world. Some of us took part in the pro-democracy movements of the 1970s and understand the spirit of resistance, the power of keeping one's ground in the face of adversity. The people whom I've been working with at Namo are determined to make our lives better. Not only that, we are
resourceful enough to satisfy this determination.
Since the tidal wave, we've recovered over a million jobs and created a million more. Plans are underway to not only rebuild the roads, hospitals, and schools lost on June 10 but to build even more than what we had before. I have directed officials at all levels to facilitate the comprehensive implementation of the Regeneration Act. In addition to that, I have called for tougher punishments against those who use the Regeneration Act for their own benefit.
At the time of writing, consumer vouchers — one of the several provisions in the Regeneration Act awaiting comprehensive implementation — are being distributed to citizens to increase consumption. Under a fully implemented Regeneration Act, we are expected to return to positive growth by the end of the year. The consensus among economists is that growth is not a
possibility, but an
inevitability.
I say all this against the backdrop of pessimism that has begun to take hold. As many of you are still worrying about what the future holds for us all, let me remind you that the wheels of progress cannot be stopped. It's statistically impossible for a millennia-old civilization to be crippled by a tidal wave on a summer day. However strong or high they may be, the waves cannot change the fact that Namor is better off than it was decades ago. We have more or less completed the transition from an export-based to a consumer-based economy, and our renewed strength has irreversibly changed the power dynamics of Velkia. These are accomplishments we can still be proud of, regardless of what nature throws in our way.
No nights last forever.
Namor, we got this.