Ekonomska politika i konjunktura u Jugoslaviji 1919–1925. godine
Economic Policy and Conjuncture in Yugoslavia 1919–1925.

Summary/Abstract: Political difficulties after creation of the Kingdom of Yugoslavia led to a slow building of state institutions, thus generating financial crisis. The budget was regulated by short term decrees, taxes were poorly collected, the budget deficit was considerable and financed by newly printed money, and inflation grew. Only in 1922 the stabilization of public finances started, the borrowing from the National Bank was stopped, and the strengthening of the dinar begun. On the other hand, inflation liquidity has encouraged economic conjuncture during 1919–1923 period, which ended in 1924–1925 with a strong dinar and restrictive monetary policy.

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