World Economic Survey 1965

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Part one: The Financing for Development, deals with an issue that has been a matter of long-standing concern in various United Nations bodies, namely the financing of economic development. The Survey discusses the problem of increasing the volume of savings available to the developing countries, examining trends and sources of savings in the period 1953-1955 to 1962-1964. Finally, the Survey offers a perspective on economic development financing. Part two: Current Economic Developments, discusses the economic events of 1965 and early 1966, summarizing the principal developments in the world economies, including the major developments in the industrially advanced market economies that led to the adoption of disinflationary policy in some and deterioration in the external balance in others. The Survey also highlights the current developments in the centrally planned countries and reviews the new five-year plans of economic development.



Recent trends in the centrally planned economies

Gains in agriculture between 1964 and 1965 were generally below those registered in the previous interval and this slowed down the rate of economic growth in a number of the centrally planned economies, so that in the aggregate national income (net material product) rose by rather less than 6 per cent in 1965, compared with about 8 per cent between 1963 and 1964. While consumption appears to have risen rather more between 1964 and 1965 than in the previous interval, the rate of increase in fixed investment was generally lower than in 1964.


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