1945

Overall economic environment and the agriculture

The year 1994 and the first half of 1995 have seen a gradual acceleration of world economic activity, with an increasing number of countries improving their economic performance. According to IMF, the growth in global output in 1994, at 3.7 percent, was the highest so far for the decade and current forecasts point to a slight acceleration of world economic growth to about 3.8 percent in 1995. The growth in the volume of world trade is also estimated to have accelerated, from about 4 percent in 1993 to 9.4 percent in 1994, and is forecast to expand by a further 8 percent in 1995.

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