Under the 1968 constitution, Bermuda has internal self-government. The English governor manages foreign policy, defense, and police matters. The regulation of internal life is handled by a bicameral parliament consisting of their senate and the assembly chamber. Deputies of the House of Assembly are elected in the general election for a period of five years. The executive power is exercised by the government headed by the prime minister. On the islands there are American military bases (including the large naval base Kings Point), which occupy 11% of the territory of Bermuda.
The islands were discovered by the Spanish navigator H. Bermudez in 1522. The first English settlement appeared here in 1609. Bermuda became part of the British Empire in 1684. Internal self-government was granted to Bermuda in 1968. The government of Bermuda in 1989 tried to achieve the country’s independence, but these plans were rejected by Britain.
The basis of the island’s economy is foreign tourism, the income of which makes up 60% of foreign currency earnings to the budget. In the field of tourist services 70% of the economically active population of Bermuda are employed. In the year of the island 600 thousand tourists visit (90% of the USA). Further growth in the number of tourists is held back in order to preserve natural landscapes; Since 1972, no new hotel has been built on the islands. 10% of economically independent Bermudians are employed in the sphere of industry.
Bermuda employs ship repair companies, boats, pharmaceuticals, building materials. The operations of foreign companies on the islands are exempt from taxes, making Bermuda an important financial center. On the islands, more than six thousand foreign companies are registered, with a tonnage of sea vessels (three million gross register tons), Bermuda is the fifth largest in the world. One percent of the able-bodied population is employed in agriculture. On the islands, potatoes, tomatoes, cabbage, bananas are grown, fishing is developed (the catch is about 800 tons per year), the floriculture is export oriented. Bermuda is forced to import 80% of its food from abroad. Major trading partners Bermuda: USA (60% of imports), Canada, Japan. The main port of the islands is Hamilton. The only runway is on the territory of the US air base. Money musical congratulations on the birthday of the unit – the Bermudian dollar, equal to 100 cents.
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