Volltext: Is there anything special about Liechtenstein's national economy?

term "national deficit" is not known and would probably set off a national crisis if it 
were to appear on the horizon. 
The reason for high tax receipts is not high tax rates. On the contrary. Liechtenstein 
holds out many advantages and one is its low tax rates. They ensure that 
entrepreneurial skills are rewarded. That’s how relatively low taxes in the individual 
case add up to a reasonable overall result. 
Admittedly, Liechtenstein's public sector expenditure also differs from that of larger 
countries. Due to the size of its machinery, various facilities cannot even be offered. 
There are, for example, no state universities, and hospitals cannot provide all 
specialised services. That's why the people of Liechtenstein have to go abroad. 
Their admission to foreign universities and hospitals is ensured through bilateral 
agreements with the neighbouring countries. These services are not free of charge 
and the contributions to be paid are laid down in the agreements mentioned above. In 
any case, these expenses are entered in the public books of account. Government 
spending is therefore comparable with that of other countries. Training, education 
and social welfare are number one on the expense side followed by traffic outlay. 
Naturally, we must not forget that Liechtenstein can dispense with military 
expenditure due to its geographical location between two neutral countries. Even its 
small size of bureaucracy and, as a result, flat hierarchy lead to cost benefits. The 
saying "small is beautiful" comes to mind in this connection. 
Although its number of inhabitants is equal to that of a small city, due to politics, 
Liechtenstein must still provide all public services. In addition, Liechtenstein has 
joined several international organisations in the last few years and consequently 
acquired their rights and obligations. Liechtenstein has - in the chronological order of 
its entrance - become a member of the OSCE, the EFTA, the European Council, the 
UN, the EEA and the WTO. These are just a few but the most important examples of 
membership in international organisations. 
I would like to return to my representation of Liechtenstein's national economy. I 
spoke of a comprehensive diversification. I would like to illustrate my description 
with a break-down of its sectors, each individual sector again being broadly 
diversified. 
BER ENGu 
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