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World Economic Survey 1983

Current Trends and Policies in the World Economy

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According to World Economic Survey 1983, the world economy remained in the grip of recession during 1982 and is only now beginning, in a few places, to show some signs of recovery. The unexpectedly severe contraction in demand that ensued from the anti-inflationary policies set in train by major industrial countries in 1979 and 1980 had brought about a sharp curtailment in the growth of world production and trade in 1981, and the deflationary impact of such policies was aggravated in 1982. In the developing countries as a group, output failed to increase for the first time in the post-war period.

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Preface

Each year, in accordance with General Assembly resolution 118 (II) of 31 October 1947, the Economic and Social Council, at its second regular session, holds a general discussion on international economic and social policy. In the general discussion, as specified by the Assembly, the Council considers a survey of current world economic conditions and trends in the light of its responsibility under Article 55 of the Charter of the United Nations to promote the solution of international economic problems, higher standards of living, full employment and conditions of economic and social progress and development. The World Economic Survey 1983 has been prepared to assist the Council in its deliberations at its second regular session of 1983. In the preparation of the Survey, the provisions of General Assembly resolution 37/203 of 20 December 1982 have been taken into account. The Survey is intended to provide the basis for a synthesized appraisal of current trends in the world economy, particularly as they affect the progress of developing countries. It is accordingly hoped that the Survey will also be of interest and use to other united Nations bodies, to Governments and to the general public.

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