World Economic Survey 1967

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Part one: The Problems and Policies of Economic Development: An Appraisal of Recent Experience, examines the principal features of economic progress of developing countries during the period 1955 to 1965. As part of the preparatory work for a second United Nations Development Decade, this review seeks to draw pertinent lessons from the recent experience relating to problems and policies of economic development. Part two: Current Economic Developments, highlights the main features of the world economic situation. The Survey covers the growth of output in 1967 and early 1968, and examines several topics of current concern in the field of international monetary and trade policy, including, inter alia, the devaluation of the pound sterling, reform of the international monetary system, implications of the Kennedy round and trends in regional integration. It further discusses changes in the methods of planning and management in the Union of Soviet Socialist Republics and Eastern Europe.



Progress in economic reforms in the Soviet Union and Eastern Europe

The year 1967 and the early months of 1968 saw a continuation of the changes in the methods of planning and management initiated earlier in the Union of Soviet Socialist Republics and other socialist countries of eastern Europe. In some of those countries —Bulgaria, Eastern Germany and the Soviet Union —these changes have been under way for some years, and further changes were introduced and additional branches of the economy were covered. Tn Poland the efforts for improving the efficacy of economic planning and management continued, while in Romania a set of measures for improving the management and planning of the national economy was approved at the end of 1967. In Czechoslovakia, a more comprehensive reform in methods of planning and management was implemented at the beginning of 1967, while in Hungary the implementation of the major principles of a new system of management was begun in January 1968.


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