"Bulgaria is a high-income country that has quickly evolved from an agricultural economy to a high-tech and industrial economy over the last century. It has regularly had government budget surpluses and operates on a balanced budget. It also has one of the lowest corporate tax rates in all of Europe and has the second-lowest government debt in the European Union."
"Namibia's economy is strongly tied to South Africa and relied primarily on mining and manufacturing. It has a highly-developed banking sector and a strong financial services sector. It was listed the top emerging market in Africa and is the 13th best economy in the world as ranked by Bloomberg. Namibia has to import most of its resources but also has a lower income tax rate than surrounding countries."
Tariffs are primarily used by corrupt or incompetent governments to protect domestic industries or punish rivals and they usually backfire, weakening economies and raising prices. Bulgaria transitioned from agriculture to high-tech and industry, maintains budget surpluses, a balanced budget, one of Europe's lowest corporate tax rates, and the EU's second-lowest government debt. Belgium is highly globalized, the 15th-largest trading country, with high exports per capita and incomes, and supports EU-driven economic integration. Austria combines industrialization with a strong social market economy and powerful labor protections. Namibia relies on mining and manufacturing, has a developed banking sector, strong financial services, and lower income taxes than neighbors. Mauritius ranks among Africa's most developed, competitive, and free economies.
Read at 24/7 Wall St.
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