SteemTV #12 :Economy Situation (Sri-Lanka)
Hi guys, It's another week with SteemTV, Welcome to SteemTV Show....!
Today's edition of SteemTV focuses on the present situation in Sri Lanka and how how they are coping with it. This edition will also educate folks about the economy and what can make a country's economy to be on the safe side.
Please note that I am not doing this to demoralise any Nation, these are just my thoughts on why some countries' economies failed, I also believe that the opposite of these failed options can play a good role in improving a country's Economy. If you are guilty of these, then do the right thing!
After the high protest that made the news last year in Sri Lanka, how is the country's economy now? Will It be a good time now to visit Sri Lanka for tourism? ....join me as I speak with @randulakoralage from Sri Lanka...
What name will you give to a country with good investments in infrastructure, technological innovation, increased productivity, favourable government policies, and a skilled workforce?
While you're still thinking of a best-fit name, let's have a few seconds of a mind international tour. Do you think any country in the world best fits the above description? (Don’t ask a Nigerian this question, they will quickly tell you Europe, UK and the United States😂...just kidding. )
Quite a number of responses I'll get concerning the above subject. While the answer to that question looks complicated, we are sure that most countries of the world can measure up to at least 85% while some have a long way to go.
Before proceeding, let's take a look at the reasons for failed economy:
- Political uncertainty: lack of confidence can arise among businesses and investors in an era when there is political controversy, and the end result will be a negative influence on the country's economy with a negative impact.
- Corruption and poor governance: These two factors combined are very terrible. There will be complete mismanagement of public funds, zero accountability, the country's resources poorly managed, and what's more, a failed economy.
- Inflation: A high cost of living can erode the value of a country's currency. When people can not get what they want (either goods or services) at an affordable price, it becomes a problem and it can lead to a failed economy. I think from my discussion with @randulakoralage she mentioned this as one of the issues in her country.
- Zero investments:Imagine a government not investing in core sectors like infrastructure, education and technology. That country will stagnate and will lead to a poor or failed economy.
- Unemployment: A high rate of unemployment in a country is equivalent to a high rate of low productivity. Youth won't be motivated to do things out of love and passion anymore. What you'd rather see is a high rate of fraud, kidnapping and the like. A failed economy is at stake. I have witnessed this myself, It’s not a good experience.
- Natural disasters aren't exempted. They can disrupt supply chains and damage infrastructures leading to economic losses. Understandably, this one is not caused by humans.
Factors are not limited to the aforementioned.
Let's rewind our mind to the international tour at the onset of this article, Is any country free from 100% of the above-mentioned factors?
We will give our individual answers to that question depending on which part of the world we are living in.
In my very humble opinion, I would suggest that in a bid to profere solutions to a failed economy, policymakers may need to implement measures to stimulate economic growth and create jobs.
This can include investment in infrastructure, tax incentives for businesses, and government spending programs. Additionally, addressing underlying issues such as corruption and poor governance can help to create a more stable and predictable economic environment.
Join me as I speak with @randulakoralage about her country....( We had a Poor signal that day, please manage the Video).
I hope you've enjoyed our show today 😊. If you want to know more about SteemTV do pop along and listen in.
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See you next week Saturday for another Interesting content!!
Announcement !!!
Join me next week Thursday as I will be speaking with @randulakoralage about her personal life and the steemit platform on "The Interview Showcase"...
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Sri Lanka is a cognate country with my country, we even often accept immigrants from Sri Lanka because they are stranded in the Malacca Strait.
The condition of the refugees was very apprehensive, some of them even fled from temporary shelters.
Deteriorating economic conditions also occur in Indonesia, corruption and the inability of the state to overcome and find employment solutions have caused the poverty rate to continue to increase from time to time.
Bachelor graduates continue to increase and are not comparable with the available jobs. The value of the currency continues to decline, even for government employees it will be difficult to meet their needs for 1 month if sourced from salary
Wow, this is deep! This is not a good condition at all. Going through the whole deteriorating economic conditions is something no one will want to experience.
I only feel pity for Sri Lankans and Indonesians, Trust me, many other countries are facing this too, Nigeria is Inclusive, sadly Nigeria has enough resources that can offset this bad economic condition but those reasons I listed above in the publication are just controlling.
Presently, the rate of unemployment in Nigeria is very high, sometimes I don't accept the figure from the media because they lie about the actual rate. It is more than what is published online.
Graduates are everywhere, with No Jobs. bad economy..!
Thank you for your great Input.
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The failed economy factor has affected quite a number of countries in the world, Nigeria not excempted.
From series of subsidies to scarcities (even currency scarcity) to mention but a few.
If only the few point solutions you outlined here will be adopted by policy makers, then economy failure will be curtailed.
Welldone @ubongudofot
That's the point..!
And until the opposite of what I have listed above as the cause of failed economy is done.., this situation might likely remain the same.
Unfortunately, Nigeria is not excempted....Sad!
Thank you for your Input.
Thank you for conducting this. It was a nice session with you. Looking forward to next one.
It was great to have you talk about your country's economy.., I hope to further other discussions with you by next week...
Thank you.
Nice interview and good to see you talking to a fellow Sri Lankan. Forget economy, my favorite part is you giving a shoutout to your hardworking buddy! 😁 Keep up the great work man!
😁 Thanks buddy, I had to. It's quite funny how you catch that place...
But seriously, you are doing great and at a time like that, I needed to do that shoutout.
Thanks for watching and following.
The focus on Sri Lanka and its current economic situation adds depth to the discussion, and the interview with @randulakoralage offers a firsthand perspective. Overall, this a well-written and informative post.
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It is a good thing to conduct a nice conversation about our motherland. So without raising a voice, it may not be possible to overturn this shameless political attitude... We still hope that things will be ok here. Hope this discussion also be a part of that. Thank you both of you....
This article from SteemTV is a great reminder of the importance of a stable economy and the factors that can contribute to its success or failure. The interview with @randulakoralage from Sri Lanka provides valuable insight into how political uncertainty and inflation can negatively impact a country's economy. It's clear that investing in infrastructure, technology, and education can help stimulate economic growth and create job opportunities. Overall, this article is an informative read for anyone interested in understanding the complex dynamics of a country's economy. :3