![Picture](/uploads/4/8/3/7/48377443/559212764.jpg)
ECONOMY AND GOVERNMENT OF GUINEA
-Guinea’s economic freedom score is 52.1
-its economy is the 144th freest in the 2015
-Its overall score has decreased by 1.4 points
-reflecting declines in half of the 10 economic freedoms, include investment freedom, property rights, and the management of public spending
-Guinea is ranked 33rd out of 46 countries in the Sub-Saharan Africa region, and its overall score is below the world and regional averages.
-Because of it's political instability and violence after a military coup in 2008, Guinea has not yet to returned to the levels of economic freedom it had witnessed in the mid-2000s.
-With it's mass amounts of bauxite, and a main source of aluminum, Guinea’s relatively closed economy relies on money earned by exports to fund the imports of food.
-Many Guineans do not hold formal bank accounts
-The business licensing process is lengthy and expensive
-The formal labor market remains underdeveloped and resistant to economic changes
GOVERNMENT IN GUINEA
Chief of State: President Alpha Condé
Head of Government: Prime Minister Mohamed Said Fofana
Government Name: Republic of Guinea
Constitution: Adopted in 1990; the constitution outlines the separation of the powers among the executive, legislative, and judicial branches and has a republican form of government (this has been temporarily suspended).
Government Type: Republic
President and prime minister in charge of executive tasks of the government.
The president is elected by the absolute majority vote and the prime minister is appointed by the president.
Judicial Supreme court is the highest court.
-Guinea’s economic freedom score is 52.1
-its economy is the 144th freest in the 2015
-Its overall score has decreased by 1.4 points
-reflecting declines in half of the 10 economic freedoms, include investment freedom, property rights, and the management of public spending
-Guinea is ranked 33rd out of 46 countries in the Sub-Saharan Africa region, and its overall score is below the world and regional averages.
-Because of it's political instability and violence after a military coup in 2008, Guinea has not yet to returned to the levels of economic freedom it had witnessed in the mid-2000s.
-With it's mass amounts of bauxite, and a main source of aluminum, Guinea’s relatively closed economy relies on money earned by exports to fund the imports of food.
-Many Guineans do not hold formal bank accounts
-The business licensing process is lengthy and expensive
-The formal labor market remains underdeveloped and resistant to economic changes
GOVERNMENT IN GUINEA
Chief of State: President Alpha Condé
Head of Government: Prime Minister Mohamed Said Fofana
Government Name: Republic of Guinea
Constitution: Adopted in 1990; the constitution outlines the separation of the powers among the executive, legislative, and judicial branches and has a republican form of government (this has been temporarily suspended).
Government Type: Republic
President and prime minister in charge of executive tasks of the government.
The president is elected by the absolute majority vote and the prime minister is appointed by the president.
Judicial Supreme court is the highest court.