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Unemployment Rate Of Zimbabwe Essay

2464 words - 10 pages

Content

Page Number

Introductory

1

Economic Background:

Country Zimbabwe

2

Country Qatar

3

Comparison of :

Gross Domestic Product and its Reasons

4-6

Unemployment Rate and its Reasons

7-8

Inflation Rate and its Reasons

9-10

Conclusion

11

References and Appendices

12

INTRODUCTORYWe chose these two countries are because Zimbabwe is one of the Top 10 poorest countries while Qatar is one of the Top 10 richest countries in the world 2011, which can show the greatest differences in their countries economic. Besides that, both of them have different economy backgrounds such as poverty rates, literacy rates, life expectancy, Et cetera.To the economic ...view middle of the document...

Zimbabwe's economy is suffering from large fiscal deficits resulting from excessive foreign borrowing.In 1989 the government introduced an Economic Structural Adjustment Program which resulted in the removal of wage and price controls, including those for foreign exchange; devaluation of the currency to increase exports and foreign exchange earnings; liberalization of trade with the goal of replacing qualitative controls with tariffs by 1995; and reduced government spending and subsidies. Although improvements have been made in several areas, government deficits still remain a major problem.Economy Background of Country QatarRuled by the Al Thani family since the mid-1800s, Qatar transformed itself from a poor British protectorate noted mainly for pearling into an independent state with significant oil and natural gas revenues. During the late 1980s and early 1990s, the Qatari economy was crippled by a continuous siphoning off of petroleum revenues by the Amir, who had ruled the country since 1972. His son, the current Amir HAMAD bin Khalifa Al Thani, overthrew him in a bloodless coup in 1995. In 2001, Qatar resolved its longstanding border disputes with both Bahrain and Saudi Arabia. As of 2007, oil and natural gas revenues had enabled Qatar to attain the second-highest per capita income in the world.Due to high oil prices and its eighth consecutive budget surplus, Qatar has experienced rapid economic growth over the last several years. Economic policy is focused on developing Qatar non-associated natural gas reserved an increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP; roughly 85% of export earnings, and 70% of government revenues.Before the discovery of oil, the economy of the Qatari region focused on fishing and pearl hunting. After the introduction of the Japanese cultured pearl onto the world market in the 1920s and 1930s, Qatar's pearling industry crashed. However, the discovery of oil, beginning in the 1940s, completely transformed the state's economy. Now, the country has a high standard of living, with many social services offered to its citizens and all the amenities of any modern state. It relies heavily on foreign labor to grow its economy, to the extent that 94% of its labor is carried out by foreigners. Labor laws offer little protection for the foreign laborers mostly coming from developing countries.Comparison of Gross Domestic Product ( Real Growth Rate )

Country Qatar

Country Zimbabwe

2006

8.8%

-7.7%

2007

7.1%

-4.4%

2008

8.4%

-5.5%

2009

13.4%

-14.1%

2010

9.5%

-1.3%

Comparison of Unemployment Rate

Country Qatar

Country Zimbabwe

2006

2.7%

80%

2007

3.2%

80%

2008

0.7%

80%

2009

0.4%

80%

2010

0.5%

95%

The percentage of unemployment rate of Country Qatar is smaller than in Country Zimbabwe. It is because Country Qatar is an advanced country and can provide more job's opportunities for their...

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