THE OBJECTIVES AND TARGETS OF SOCIO-ECONOMIC POLICY IN 1972 AND MEASURES FOR THEIR REALIZATION (IN YUGOSLAVIA)
THE OBJECTIVES AND TARGETS OF SOCIO-ECONOMIC POLICY IN 1972 AND MEASURES FOR THEIR REALIZATION (IN YUGOSLAVIA)

Summary/Abstract: The basic aim of socio-economic development in 1972 was to achieve a certain degree of economic stability and to alleviate the unfavorable development trends. Many development problems which had accumulated over years began to be acutely felt in 1971. Economic equilibrium was to a great extent upset because of the failure of economic policy to ensure the fulfillment of medium- and long-term development targets. There were considerable discrepancies in commodity-monetary relations, both globally and structurally, resulting in a still steeper inflationary spiral in 1971. Structural incongruities in the economy and in investments were thus further aggravated and business efficiency slackened. However, in 1971 there were some positive trends in foreign trade and in the growth of economic activity, especially in industry, and the financial position of the economy as a whole improved. But at the same time, economic movements in that year were marked by unstable economic flows, especially in the market and price sectors, a considerable balance-of-payments deficit, and an unfavorable structure of investments.

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