Finance of Comoros

The minimum monthly wage in Comoros is 131 USD. Comoros has a government debt of 0.4% of the country's Gross Domestic Product (GDP), as assessed in 2007. With regard to consumer prices, the inflation rate in Comoros is 2.5%. The currency of Comoros is Comorian franc. The plural form of the word Comorian franc is francs. The symbol used for this currency is Fr, and it is abbreviated as KMF. The Comorian franc is divided into centime; there are 100 in one franc. Each year, consumers spend around $535 million. The ratio of consumer spending to GDP in Comoros is 86.01%, and the ratio of consumer spending to the world consumer market is 0.15%. The corporate tax in Comoros is set at 35%. Personal income tax ranges from 5% to 15%, depending on your specific situation and income level. VAT in Comoros is 10%. In 2013, Comoros received 68.6 million USD in foreign aid.In 2014, the foreign aid amounted to 51.8 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Comoros is $1,190 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Comoros was last recorded at $1,429,692. PPP in Comoros is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Comoros is 1 billion. Based on this statistic, Comoros is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Comoros was last recorded at $747. The average citizen in Comoros has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Comoros averaged 3.9% in 2014. According to this percentage, Comoros is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.