Madagascar

Topics: Economic growth, Inflation, Madagascar Pages: 3 (493 words) Published: February 24, 2014
MADAGASCAR

Madagascar, the Red Island, the Rainbow Island, the Eighth Continent, there are many names for the world's 4th largest island. Madagascar is situated in the south western area of the Indian Ocean east of the coast of Africa about 400 km off the coast of Mozambique. The island is recognized as one of the world's top ten hotspots for biodiversity.

Madagascar is inhabited by various ethnic groups of Malayo-Indonesian, mixed African and Malayo-Indonesian, and Arab ancestry. Five centuries before the Europeans discovered the island Malayo-Indonesian seafarers arrived in roughly the first century A.D., the Arabs followed in the 6th century to establish trading posts. Since the 16th century French and British influence left its mark. In October 1958 the Malagasy Republic was proclaimed as an autonomous state within the French Community and gained full independence in June 1960.  Like many former colonial countries Madagascar went through various political states like uprisings, provisional governments, single-party rule, socialist economic policies, and threat of secession.

Today the country is on a slow and steady economical and political growth path from an extremely low level. 

I.
GDP
Gross Domestic Product – GDP - US$ 10.545 billion (2010 estimate)

GNP
GNP (Gross National Product), 2005: 5.37 billion dollars

GDP Growth Rate
2009
2010
2011
2012*
-4.1%
0.5%
0.5%
2.9%
*Estimate

GNP Growth Rate
N/A

Per capital income/GNP
2003: US$290/year

Inflation Rate
2009
2010
2011
2012*
9%(2008)
9.2%
10.6%
8.9%
*Estimate

Unemployment Rate
2011-2014:

Tax System
One of the most consistently challenging aspects of contracting in Madagascar is complying with the country’s tax system. Whether you’re a contractor or a permanent employee, you have to pay tax on all of your earnings whilst you’re in the country. As well as paying tax in Madagascar, you might also still be eligible to pay...
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