THE ECONOMY IN 1962 (IN YUGOSLAVIA)
THE ECONOMY IN 1962 (IN YUGOSLAVIA)

Summary/Abstract: FUNDAMENTAL CHARACTERISTICS AND GENERAL CONDITIONS OF ECONOMIC DEVELOPMENT IN 1962. In 1962, the economy developed unevenly, with a slow-down in the first half of the year and a more dynamic growth of production and economic activity in general in the second half. A large number of factors, many of them inherited from earlier years, were responsible for economic movements, results achieved and trends noted in 1962. Of primary importance were the failure in agricultural production and the rather small industrial increase in 1961, which brought about a slow-down in economic activity in general and had an adverse bearing on the market situation and prices, whose general level went up, on foreign trade, and on the balance of payments which deteriorated considerably, in 1961. Certain structural discrepancies, primarily as regards the production-consumption ratio, and a rise in all kinds of domestic consumption in 1961 above the level of the real volume of material production, also contributed to this state of affairs.

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