Economy of Mount Vema |
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The Economy of the Kingdom of Mount Vema
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Financial Year: September 1st to August 31st
Budget: Revenues: 200 billion golles (2030 est.) Expenditures: 120 billion golles (2030 est.) Note: Expenditures include both operational and development 
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The Currency of Mount Vema
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The Kingdom of Mount Vema has a prosperous economy, based on a comparison of GDP measured at purchasing power parity conversion rates. The Mount Vema real estate although off-plan, is already highly valuable. The 1.6 trillion golles total value of the Kingdom of Mount Vema entire projected property stock and the Vema Seamount territory itself is more than the combined gross domestic products (GDP) of some well-developed countries. This is an economy where the Government buys needed goods and services predominantly in the private marketplace, and private individuals and business firms make most of the decisions. Firms also enjoy great flexibility in decisions to expand, to develop new products, and lay off surplus workers.
The Vema Seamount territory with its marine life alone is an asset that represents the value of ownership of the Vema Seamount Authority that can be converted into cash as collateral at any time to enable His Mount Vema Majesty’s Government to raise finance to pay for the country’s obligations but the government makes very little use of this option as it forms part of His Mount Vema Majesty’s Reserves and requires the approval of the Sovereign. The annual spending budget is determined by the country’s debt ceiling, signed by the Sovereign every August and announced on the first week of September. But when compared with the country’s total estimated revenues and total asset value, it places Mount Vema and its currency in a very especial place when it comes to purchasing power.
The Mount Vema property market is building on positive momentum that has begun with off-plan sale, although the government only plans to sale initially 10% of all development units and properties that will be built. The rest will be reserved to let, to be used to raise funds to meet liquidity needs. This policy is to maintain a sustainable supply and a healthier market that could result in annual appreciation of between 3 percent and 5 percent.
The Vema Seamount territory with its marine life alone is an asset that represents the value of ownership of the Vema Seamount Authority that can be converted into cash as collateral at any time to enable His Mount Vema Majesty’s Government to raise finance to pay for the country’s obligations but the government makes very little use of this option as it forms part of His Mount Vema Majesty’s Reserves and requires the approval of the Sovereign. The annual spending budget is determined by the country’s debt ceiling, signed by the Sovereign every August and announced on the first week of September. But when compared with the country’s total estimated revenues and total asset value, it places Mount Vema and its currency in a very especial place when it comes to purchasing power.
The Mount Vema property market is building on positive momentum that has begun with off-plan sale, although the government only plans to sale initially 10% of all development units and properties that will be built. The rest will be reserved to let, to be used to raise funds to meet liquidity needs. This policy is to maintain a sustainable supply and a healthier market that could result in annual appreciation of between 3 percent and 5 percent.
REGISTERED CORPORATIONS
Some of the key companies registered with the Vema Seamount Territory
MOUNT VEMA - KINGDOM OF MOUNT VEMA - THE VEMA SEAMOUNT TERRITORY
ADMINISTRATIVE DIVISIONS
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COUNTRY CODE
COUNTRY CODES IN USE Mount Vema Country Code: OV / MOV Mount Vema Numeric Country Code: 507 Currency Code: VSG Proposed Top-Level Domain: .ov Proposed Telephone Country Code: +294 |
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