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World Economic Survey 1966

image of World Economic Survey 1966

Part one: Implementation of Development Plans: Problems and Experience, offers a series of papers dealing with problems and experience in the implementation of development plans. The subject of plan implementation has figured prominently in recent discussions in international forums. The Survey reviews certain aspects of the experience of the centrally planned economies that may be relevant to the problems of plan implementation in developing countries. Part two: Current Economic Developments, covers the economic events of 1966 and early 1967, summarizing the principal developments in the world economies, including trade and production in all major regions, as well as institutional changes in the centrally planned countries. Furthermore, the Survey analyses the specific difficulties currently faced by developing countries.

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Recent trends in the developing countries

In some respects 1966 was a fairly satisfactory year for most of the developing countries: industrial production was well up on 1965 levels, export earnings increased to a somewhat greater extent than in earlier years in the decade; the increase in imports was also rather higher and, with a more adequate flow of supplies, internal pressures were held in check in a number of countries rather more effectively than before. Offsetting these gains, however, and in some cases overshadowing them, were several less favourable developments-a further increase in the burden of debt service, the inability of some countries to reduce instability without at the same time reducing production and, most disconcerting of all, the failure of agriculture in a number of countries to maintain earlier rates of growth, which in the face of an accelerating increase in population has necessitated larger imports of food.

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