Nauru is a country located in Oceania. According to AbbreviationFinder, NR is the two-letter ISO code of Nauru, and NRU is the three-letter country abbreviation for Nauru.
Nauru. In early February, general elections were held to stave off a time of political instability. According to Countryaah, the national day of Nauru is January 31. Three presidents had been deposed after a series of distrustful votes in parliament since November 1996. The newly elected 18-head parliament appointed Kinza Clodumar as president.
Nauru has no tax system. Government expenditures and investments are made from a large fund, which is funded by the revenue from the extraction of phosphate. Education, health care and housing are free.
Hammer De Rount dominated the country’s political scene from its independence until 1976. During this period he held the government, but lost it in 1976 to Bernard Dowiyogo of the Nauru Party. In 1978, De Rount again regained the post. At the 1986 election, a woman was elected to parliament for the first time since independence.
Bernard Dowiyogo regained the presidential post in 1989. During his reign, a lawsuit was launched against Australia for the rampant extraction of phosphate over 50 years. In 1991, Australia recognized that Naura was entitled to claim damages, and the UK and New Zealand agreed with Australia to pay about $ 100 million to Nauru.
That same year, Nauru had a government budget deficit for the first time. It was estimated that if extraction continued at the same pace, resources would be depleted by the year 2000.
In 1995, Lagumot Harris was elected head of government, and the government now initiated investments in aircraft and in the country’s fishing fleet. At the same time, the government was aiming to reduce the government deficit by reducing government spending, raising taxes, freezing workers’ wages for a two-year term, closing some of the country’s consulates abroad and privatizing a number of state companies.
But the fall in world market prices of phosphate, the high cost of maintaining the state airline and investments in non-profit areas caused serious problems in the economy.