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World Economic Survey 1964

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Part one: Development Plans: Appraisal of Targets and Progress in Developing Countries, reviews the experience gained and the techniques used by different countries in planning for economic development. It focuses attention on development plans in the developing countries. The Survey provides an overall view of the main characteristics of these plans; by tracing the interrelationships between the targets established in the plans, it brings out a number of important differences as well as certain similarities in the strategies proposed by various countries. According to Part two: Current Economic Developments, the main challenges facing developed market economies are the use of incomes policies for internal stabilization and the difficulties facing the international monetary system in the light of the payments imbalances of the reserve currency countries. Meanwhile, a number of developing countries are struggling with the problem of agricultural lag and food supply and difficulties in maintaining internal balance. The Survey further highlights changes under way in the internal economic management of the centrally planned economies and the challenges of economic integration among the countries of the Council of Mutual Economic Assistance.

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Recent progress in the implementation of plans

Many of the plans reviewed in the preceding chapter have not been implemented for more than one or two years, and it is not yet possible to comment extensively on their progress. Discussion in this chapter has therefore had to be confined to a minority of countries whose current plans were initiated in the first two or three years of the present decade. Since the sample is small and since data on the most recent developments are often not available, generalizations based on available information are necessarily of limited significance. Nevertheless, the analysis does serve to reveal some of the problems which have been commonly experienced in the process of implementation.

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