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Yugoslavia The "Perspective" Five-Year Plan
In the five years between the first and second five-year
plans, the Yugoslav economy followed ad hoc annual plans. During
this interval, a high rate of investment and savings was
maintained. In 1957 the government introduced a Second Five-Year
Plan, called the "Perspective Plan" because its stated goals were
not strictly mandatory. The primary purpose of this plan was to
incorporate the principles of socialist self-management. The plan
specified scope, expected trends in demography and productivity,
volume and allocation of investment, and increases in production
on the federal level. But enterprises, communes, and republics
were left to their own devices in reaching production levels.
They devised their own plans, then submitted them to the Federal
Planning Commission. That body then consulted with republic
planning institutes and drew up the final plan according to
federal government policies.
Yugoslav economists consider the Second Five-Year Plan the
most effective postwar Yugoslav economic plan. Its achievements
came, however, at the expense of negative impact on the
international balance of payments, uneven domestic investment
patterns (which once again allocated insufficient investment
resources to agriculture), growing unemployment, inflation, and
cash-flow problems. Nonetheless, fulfillment of the plan was
declared ahead of schedule in 1960.
Data as of December 1990
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