Bingustani Economic Recession

The Bingustani Economic Recession was an economic crisis starting in 2029 after the Bingustani Revolution, which resulted in the destruction and closure of factories, power plants and such near populated areas which resulted in a mass loss of workers. The recession had a deep effect on the Bingustani economy, which was one of the biggest motivators of the attempted coup in 2030.
== Cause ==
When Balin went into power, he opened up to around 1,400 factories in Bingustan to "give jobs to people". The UN claims that these factories led to Bingustan surpassing their pollution limit and ranked Bingustan as a highly polluting country. Balin said that he does not care about Bingustan polluting. Nikita has closed multiple factories, however not that much.
An important factor was the Bingustani Civil War, which destroyed a large number of factories nation-wide. Following the Bingustani Revolution, Yeltsin's government massively closed factories close to populated areas. The following result was high unemployment and the recession.
== Consenquences of Recession ==
As a result of the recession, many companies went bankrupt. Unemployment rates went from 10% to 59%, which was twice as much as the Bingustani 2016 Economic Crisis. Banks which struggled to keep a fine amount of profability we're absorbed by bigger ones. Prices all across Bingustani shops had greatly increased, including fuel, basic needs such as food, drinks and such. 
The recession had a deep effect on Bingustan, the government had made attempts to flip the economy back up but with minimal sucess. As factories in low-populated areas we're destroyed as a result of the civil war, multiple parties have made the promise to open factories in said low-populated areas. One example was Bobby's Civic Bingus Party, which opened multiple factories a good distance away from Sphynxopolis and other cities.
Category:Events
Category:Bingus
Category:Bingustan