Complicated economic recovery

31 March 2022, 12:38 | The Company
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Over the past ten years, there has been a significant increase in world prices for hydrocarbon fuels, oil, and minerals. On average, an increase in metal prices was noted in the range of 65-66%, an increase in oil prices amounted to about 159%.

After the discovery of large mineral deposits in developing countries, for example, found gold in Burkina Faso, honey and oil off the coast of Ghana, as well as coal deposits in Mongolia, the world community was confident that these countries would expect significant economic growth.. But, despite the discovery of natural resources, the presence of prerequisites for economic growth, no significant growth has occurred in these countries, rather, on the contrary.. Countries with the lowest natural resource endowments, paradoxically as it may sound, have more stable economic growth and development.. Of course, the overall economic growth rate can be positive, but without taking into account natural resources, the basic economic growth rate is considered to be quite low.. Do not panic and succumb to pessimism. Part of the problems associated with natural resources are due to economic underlying forces that countries cannot control.. But still, the country can control public investment. Given the low performance and inefficiency of investments, governments in countries with both low and high deposits of natural resources provide an excellent opportunity to increase activity, as well as to counter the forces that are trying to use natural wealth for their own purposes..

In order to exercise such control, the state is obliged to review its policy in the field of nature management..

There are economists who are sure that the real figures in relation to minerals are significantly overestimated, and in reality the situation is much worse..

Due to the fact that the numbers are inflated, and there are problems in the economies of developing countries. Such phenomena call into question the economic models that are accepted in the world, because according to them, with an increase in capital state investments, economic growth should be automatically observed..

In practice, everything happens differently, so it is difficult to predict further developments in the global economy of natural resources..




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