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!

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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...

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What name will you give to a country with good investments in infrastructure, technological innovation, increased productivity, favourable government policies, and a skilled workforce?

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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. )

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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.

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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.

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• 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.

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• 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.

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• 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.

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• 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.

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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.

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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.

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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.

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Join me as I speak with @randulakoralage about her country....( We had a Poor signal that day, please manage the Video).