The Rise Of Australasia

Chapter 814: 608: The New Year_3

Chapter 814: Chapter 608: The New Year_3

There are certainly nations where industry and economy have weakened, and the most obvious and special case should be the United States.

Protests had a very clear destructive impact on American industry and economy, which led to a decline of more than 3% in the industrial output of the United States compared with 1923.

In terms of the economy, an increasingly apparent racial crisis, along with a variety of other issues, kept the American economy in equilibrium, with no growth or decline.

While other nations’ economies were slowly growing, the equilibrium of the US economy was tantamount to a decline.

Turning the attention back to the development of Australasia, Arthur was very satisfied with the government report card for 1924.@@@@

In the transportation sector, which Arthur was particularly concerned with, Australasia’s railway total mileage had already broken through 57,000 kilometers, with main railway lines reaching every direction, even the two newest state-level administrative regions already had very extensive and developed railways.

Highway construction was even more vigorous, with Australasia’s newly constructed highways sprawling everywhere.

As they say, to make the horses run, one has to let them graze first. To turn these two countries into reliable markets, it is necessary to improve their per capita income.

Although it is a significant investment, the built railways will be under the control of Australasia for quite a long time, making it relatively easy to recoup the investment.

Also pleasing to Arthur was the economic growth of Australasia in 1924.

The most reliable indicator of the People’s income and the country’s economic development should be the Gross National Product.

In 1924, the Gross National Product of Australasia reached as high as 1.573 billion Australian Dollars, with the growth rate compared with last year being as high as 9%.

The rapid economic development was reflected in the government’s fiscal revenue. In 1924, the Total fiscal revenue of the government broke through 220 million Australian Dollars, setting a new record.

However, this is not worth boasting about, as many Powerful Nations had surpassed One billion Pounds in fiscal revenue many years ago, and Australasia still has much room for improvement in terms of the economy.

More fiscal revenue also means more Fiscal Budgets. It is believed that in 1925, the government will allocate a higher fiscal budget to various departments. The results brought about by more fiscal budgets will also be reported back to the government in the annual report of the following year.