Porto dos Santos: The government of newly installed Prime Minister Jaime Ramos has announced a massive economic investment and reform package aimed at stabilizing the Tukaralian economy and providing a framework from which the economy might be able to grow in the future. The reforms focus on several key aspects of the economy. The Democratic People's Party of the PM has always ascribed to the concept of state capitalism, believing in a free market with strong state influences. With this ideal in mind Ramos and his government have worked to develop a plan in which this state capitalist ideal is realized. First of all the Junta's nationalizations of the energy sector will largely remain in place, with the Ministry of Economic Affairs noting that, "the energy sector is vital to the survivability of our people, by keeping it in government hands we ensure that prices remain payable for the majority of our population and that the system isnt prone to outside involvement." One small change in the energy policies will be the allowance of small scale private electricity generation, with inidividuals and companies being allowed to generate their own energy locally (through the use of several methods including renewables) meant to allow these entities to better determine what works best for their company.
Another major change is in foreign investment policy. While the PPD is still nationalistic and protectionist it will in this reform relax its grip in foreign investment, lifting the total ban on foreign investment and instead allowing it with the condition that any such investment is approved by the government. This will finally allow much needed foreign investment into the country while also "protecting" it as wished by many PPD officials. Secondly part of the till now nationalized banking sector is to be privatized, with small community banks and possibly foreign banks being allowed to operate and settle in Tukarali for the first time in years. Major banks, such as the Tukaralian People's Bank and the Consumers Bank will remain in state hands, but will partially retreat from regional markets to allow for small scale banks to develop themselves. One major reform many had been waiting for is housing reform with the Ministry of Housing and Urban development adding a plan in the reform to finally allow the state to provide housing to low income individuals. Furthermore the till now unregulated private housing market will be regulated in this reform, with the government obligating organizations representing landlords and tennants to negotiate renting prices, giving tenants more power over their own rent and living conditions. The ministry stated that "this reform will give a first step to our people, affordable housing, which is needed for everything in life from stable work to a stable social environment. With this reform we seek to hand the opportunity for creating such a safe environment to more people which in turn should boost our economic recovery."
Besides many reforms announced to stabilize and improve the economy and once again allow for private enterprise the bill also describes a allocation of nearly 100 billion into a "future development fund" which the ministries of finance and economic affairs will be able to use to invest into private projects with major potential for success as well as diverting more funds to ministries in advance of their own projects. Targets have also been added to the bill, with the government seeking to stabilize the economy within 5 years and set it up for a trajectory of growth in 7 years. With housing reforms and other small scale social reforms added to overall planning the government also hopes to eleviate poverty effect and the effects of low income for many, simultaniously improving living conditions together with the economy.