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Economic and Social Survey of Asia and the Far East 1955

image of Economic and Social Survey of Asia and the Far East 1955

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.

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Afghanistan

During the year 1954/55 the economy of Afghanistan showed signs of improvement. The crop was better than average and brought about a slight decline in agricultural prices. Government tax receipts increased through improved administration, without however changes in tax rates or introduction of new taxation. The exports of the country improved sharply and the foreign-exchange reserves of the Central Bank (Da Afghanistan Bank) accumulated at a rapid rate. The rising export earnings and developing economic activity were reflected in a sharp rise in the supply of money while the cost of living remained stable. The commercial activities of government enterprises increased and some credit institutions and commercial corporations were established. The year 1955/56 offered the same favourable outlook till the end of the first quarter when the dispute with Pakistan resulted in the closing of the Afghan-Pakistan border. A transit agreement was concluded with the Union of Soviet Socialist Republics in the second quarter of 1955/56 to alleviate the economic difficulties thus created. The 1955/56 crop appeared not unfavourable in spite of the relative lack of snow during the winter of 1954/55.

English

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