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Economic and Social Survey of Asia and the Far East 1956

image of Economic and Social Survey of Asia and the Far East 1956

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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Pakistan

Food production, exports, the development effort and the financing of defence have been outstanding problems in Pakistan's economic life. In 1955/56, the food situation again caused anxiety, owing to widespread flood damage to crops, which necessitated imports of large quantities of rice and wheat and raised the cost of living considerably in East Pakistan, a food deficit area. However, export earnings rose beginning in late 1955 and, because of strict import control on non-essential items, could be used in part for financing food imports. Devaluation and the consequent larger payments surplus, together with the sizable government deficit, expanded the money supply, but external aid and, to some extent, an increase in industrial production helped to ease the upward pressure on prices.

English

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