Peru - A brief review of recent trends & development

_：一楓A弘8} ”門～,--－豐心＿r甲1化 機e娥驕Y 計，賺雙 綢畸勵開口馴勵舊馴購自••口．口自關目開申 矗魚吃d魚胄當擊婦 Of 勵冷唱他馳•開曉•．細門山州”鷗 :，取鳥珍． h”矚黝戶的開嚇 袖細細磚曉為喲細細繡此口頃觀h唯d州臘 糰觔州么幼，州曦。 幼力時 49, Iýrodn*tinn tit 1.ja ?sra, the third l4rget comntry in tou%h Ameriea, Is situntga on the PaCIf1c Ceagt beween Y~dor and Chile. Its people, estinatd at 7,719.276, 46$ IMia, are joernd by & ralised republUan form of rwver~es akteh 0re 1 t xprienoinr dlffieity bsnee of n complete swhim betwe ri~tist and leftigt polltimal Gelfmtg. Af:i«ultUre and M4ining prou*tion are the prineipal bass of the Prv- lan eMy. COttant swr 0oppr and ptrol ib4 shipets! abro d G~nttuto amt 75% of e~prts. Thes priary aivittes aoot for ab~n* 569 of nati~- al imese ietinr that pr ifi 1 thie earlier sa"s of 9e~1n6ie vitae. Mnufaturng, %hough atill on a small 9e, is expandin accis~ed by a policy of tariff protetion. Peru bad n favornble balance of trad durin the ar and Mataainxd a stable echange rat* of 6.50 *ale* to the oUlar. komelted reeve tn pre- ortton to premr holdings were mw~ h ~l1lr than In ome other Ii3 Ariaa ountries. Since 19146 the balan~e has been nfavorable, chiefly as a re~ul of h*tvy lmport d~*ands and lo~er eper produtlion volmes. The eam*~e ett- uation is tight, nM the free rate öf exehawne has fallen ~harply. ~ervie. on the external de has be in offet smened sin~ 1931. Prioa have risen conti*ns,y ste 197, rith an a~calerated upr trend wnwe 1945. There has been a ani mos bpd&et deficil hronghu the latt 30 yars, fimn~ed sinne 1930 by Iman from the Central Resevm Ink. Ths 1overaent has qxtenive plans for eapital tnveet,.nt n there is little indiention of r.na erly oheck to the ipward mwegent of priesa. 2. Gaanih2r42Pen laIan ?ena is thø thtrd 2argest eoniatry tn Sorath Anerrta, comprts%*g fl ftWea0 of482058 *qø'r*etles. Zt 4s 4itwte4 an the ?nctiøi oatt aiS is btad on the mrth r cMxde, on the nrtlest ax oatt b7 C~lpbta nnd 13nfil. on Ut sauthieast br 11r,>uln, tni at lt sther~..t t by CMi. heAntas >tøntatns dtvtdø Pern into a narrw flat cashøt $lata whers ra.e fail is *w* the '*»zatnln nreon whre aintntfl is sutføt*nt for sflagltre ad nsating, *at te eastea Iloflan Jnnfl føreets. PouIation » 1945 ts ethatd ^t 7,719,276, ith yrtest dnsity beint in nter ~lstax rM af 1M12n x*t th nrth*rn ~astal d.part»økts (Økteø). tthntnlty, tttr d attd reptøsent 3 *f the pøpulttæn, Xtdane 46' nd other li The ann~al popWuttien 1n~q« is 1.7 eo, ared s4th the , 3. ratøet 4¼ titsr is UhY ?he lalor force reprsnts 32% of 1he Inal p~nattøn w*th ttretr rø- rwpnnting 5 ø ot ne total esi e, Manufleturtng 15. Lirestosk, øresutry. flehi. 10, anItMnr 2at j. flstnrr an4 ?olites Pern niltrnilr is the *lao#t 'of $ nth Anroa natøns, battg bn for ø ntwri,s th lead«n poit$ea% poe en the tontelant. flrt as the s~nter of the n< 3mpire; Iter t SpaIte rent '#esroywlty tn fhe New orl4. U%aør the Spani.41 te destralie lUra assM tato tie pesesutn of tnflnn.ntiSal tftes »at thes ane sq tdMare .1l 1arjely held by tteir d&.- endante. The rnult ba. been Uta the *14 sansh ieas rtardUng eastf, »~41 14or, the ch~rch, e~sttoft am banetusu *re etill staa et ?r4. ta 1824 the. onuntry wont tndependenc. from $p'an and conoensed 4' staqs mareo nlt-gr.rnnent. a a 4r ith Chil*. 1&79$, Yrn loøt to Chø t' thie ~ øøstøl stripe eenin te atratet soda tetoutts4 fownanctal dtifiotoaen bar conttnuaily acued ?eru, sn dnptte a I*ben3. øo*tatton tthørtriarin «ofern~ats r*ve bøn the rule. 一）• 觀目歸t．口臘么庫觀他細•織”們漁購•。鰍”d也細偽”〝”•網嬌。•馴咸啼•婦亂 b乞•州•”dl啊鷓痲．細”陽。。P，•．t必戲鴉‘磁t”•n••h隨．騙．瞬．曉”細喊f袖，d萬 7論，.,&&d。•細吵．幼離他細•d•魄牌嗚織，•奮••，,h•驗他•州闈逞州觔”，織鷓討絲磁卜 戶j細網鴉，叫織1妒悶〞細“t.oh鰓贓，．開曉觀1細磁綱物團瞇••〝幼•喊他誠步奮劇閑向神數 ,．•細咸t跑伯h•，．他魚劇騙1州”馴，，矚他． 數織乞tt系中妒。，•’〝亂，•鰓，啊購忽7華‘取1襯他細陶〝戶．鵝劇矓．織俗妒州騙濾。計磚 h、d由織忽。，鳥J劇”細么•糰•州臘•馴d•震h爍”。d勵的•遲涌．磚10。期師，二網江么t幼• ．鰓誠幼臘他．,&d&e八喊絲，偽由細•t旬h•州滷討翻鴉州k〞1．鷓計騰，&d餌1•••留 •細d憎dh魚妒11喊輪闢念11楓汙p•鬥劂．dl,t.．神A戶tt．鳥為11．州h叫”‘們哺，•‘• ，•撇物d朧d．•細他h•偽細戶陶備，b州憎．仰臘•。，劇闖，魄他久，..1個馴口總．“威1．為t•令•。 他h•hd臨•，，叩”劍•細喊州喊d他7坤他h•為罵絲魚鱸吃7吋馳守鳥鰓細，“〞〝個h•劇開騙 h才婦妒網躑畸•俗。劉甲“，織〝他痲勵螂處久．．個為頃•”，榆•．開•”臨訕涌．”•。編纏 •句””•．網嗚劍”觔陶點開喊鰍州洶，•。甲h•劇劍細磁幼瞭戶久生t魚艷1調守 tl•••，•九么螂才 馴甩闔才細縫‘口”咸卹dh他1,.t細．令黑•．亂奮h．•訕“•細響•。幼瞌．騙•開頗陶開．騙• ‘俗細•蘊么開卹隨•．。實h•A自白曉鷓病峰幼論h&．訕開曉細”矓，鵬無嗡觔騙•d細細念細鷗 鶴“•••．勿”取戶膩細曦，鬨州h鴉細陽婦，細州織幼盤．江州細江個．細細 婉為目目劇國“膩自目以口么自自自鼴 .）勾「馱鬨江當•陳。馴劻”他州臘．為概奮叮“己教纖細唁。 們騙魚勿細戶鳥磁，.11織甲•吋乞細．,.，唱h•，為細絨劇開由鉤江••‘州h乞六唱么•”。劇闢卜 調細細啄袖妒，山臘細紛綱侈．舂闐為•，．•物州細•織纏奮細勝他細．。開喊州幼•鉀向口細必 劇“學‘.t馴畸細矚‘‘•悶，〞幼纏血鑲襲戶5州開頗•‘睦t”必膩吋他細鰓t細．.. 啊甲”物坤〝d，。．U馮，網以響•跑d認〝”心“由．，•妒戲d•馴喊為’么•劇畸細唱••。袖曉 加楓網df細為啊鴉〝縫觀•，.o幼瞌也細戶h．•，.”妒細礎。細州細瞌細•認卹膩i觔陶．細“自 開“奮神乞．•．劇網•．九，幼悶購父侈．tt細，t“觀數細馴．”闕d幼1．•驕細•應緘 &．他“關比卹婦吋么”&&“婦‘網隨”．亂“V，睦發．“發總劉d〝，·細喊細•口隨 儲跑州細比．戶細瞬神肚才。tl州砌神劍門戶為騙”加dl▼點加嗚取細馳久閱，啊團饞細喊．跑幼磚 憐•細鳥細曦闖陶細目‘劉陶由細俗加瞭馴陶，為。，鳥才馴．，細•b&．朧•域一師細叩雙 緘騙協•妒州細他細•幼開”編“瀾誡絀．戶訕鴉戚觔物．．以磁黝才．面盡1t細•必盒劉d卜 ,，緘訕鹹，馴目細喊購劊“物幼”，細·’喊戲目冷U么償鞠，紛《州團歸》．訕昤細•叔“.& Ali cl - 5- forig~ n exchs . P#trolm presnoots are obmwred by the Cogresional stale-. mate ~hioh has held up ratifieation of a contzaot with International Petrolea. This contreot provdes for exporation and exloitction of the Seehur D*sert, xa area in the coactal northwett. In viev of the rising trend af world and dousti demands, ew production o#ro*s aro neded to maintain prowen *Il re- serves of 150 million barrelo. o) Ieetric Pover The total Installed ~enerating eapacity in 1940 vas 219,746 Kw* an th*re are 592 plants, 7% of which vere in the oentral ar, the Departments of Lima Juni. ?Äblic utility companes provided 47% of cetity, the Mining industry 37%, ad hydroelectri lstallation represented 67% of mpacity as to type of plants. In the heavily populatd and iMustrialised ma-Ollao are capactty appeare ufficient to tke care of all needs unil 1952. Ytar tem devel~ent plan wall for initial Installatlen of 50.000 Iv* ta the ohiabete Valley, 200 mile north of Lima, to #up,: power for workIng of tr~s, coal aM 0il deposite, and a potential a44itioaI 3090 rw" for Lima from a nm dag, the vater bing stored for standby ^nd emergener purposs. d) ä~nfacturing nufaturlng aottvittes includc prosOning of ruch aw uatwrils as notton, sugar, petrola.t Pn -opper for e~nert, end fr the daeetio arket thor. are plants xroducin ford4tiffs, texttles, leather goods, chemicals, pap.er 01a9s, light metal parouct, eersales. Gvernment m~apoling include alcohol, o lowiv*. Mtohe, salt, toaecO. xtring the var there was considera&le expnrsion. The major share of capit41 nvest4aeat, estimted ta 1943 at US $ 65 8llio= gres, Csonstet of fumdå put up by Fervian natton4,. M%ndfacturing represeats *lightly 1*ss than 141 ef nation^l income. P definite poli-r of protection ha been adopteo ta the tariff legislation of recent yars. ~. 6 - *) Timasprtation & Oeomateton Atr trauport pr~v1ded inrn ionally by Pan Amriwa G~e AIrways, Perxiwa Iertional A~rys ,nd TACk and looklly by v.~tt Airlina and a rverøn-t ned ( os»~ pa play* a ve ia pr.rt boeasmå th^ ~mti~xa tørrala of thn ommtry. Mighr develpmrnt has be*n øpoinred by thø Fedral Gover - ment na tnlk^l mil~e^m in 14-5 (2t190rp måles) ~we n 55r inc~8 over 19%. The Pn Amerima hM~y s fro" X~nder to Chilo n Wwt« of feødr highwýy over tho And** to the eastern 4'ions is betg developed. taillym cont of PL eentral and iout>ern Gystef not intereonncted, sort lins, an p,ILntation systene, all to2 e260'^ miltis. ricplrailroade are the uevermet.ovned t4at iom1 Radlwys ih) an *434 SpJish-iwne4 Perria Carper- ation (m9 rih oumscnito i** pr~tnet, petroleui awd pro~~se agricultiural. raw patoriala. E is short, physU%l o itioin -orn, and finAa~9e fair. nrean corxltition frm n hirhway tr.nsport is for*ee. 'Water transport is vf the men River tnd th port of Iouitos to the samt. ad via the Paeifie 0o~ on "he vest whro the primipal port is Gallas. ~- mtcattions t> post an toleraph are prvidød by he Governan, tøleph e nd radio by privte companiest. f) Labor Ls~ naions tostitue the basie orømtnation of Peraian labor fol- loed by indutry mrøs regim unions, øund, at th^ top lev*l. the contedela- tioa of Perwina (erkrs. DUring 1<46 ottrai~ lab('r w uneessful ann sIcur- ing apmrd vag adultantt for factory, mine, ^ .1 ffle* orkrs aveang up to 30%. %ov*r, this a« ace~plished at thø 6ot if a dealm in produetlve enpaciy bo,ght ab~al by freuent strUs, organising agitations, absnteein ad slo ev». ?Nrth^r, ~rriuttur-¥ iterete emplain of diveion of labor to the Qov#rnmen% aevelopent projecti3, partiolarly road building, b~ulm ef hiher wage seales. ~ 7 - la om~e to Iroa m%t th~s diffieumf.an An. ineresse natil >r~de t vy 0o to redce inflatinl ra.res It~ Tsta Gerrsent has propom re,gltory lsgsUlaon wihl protnate the rtght to *trLke but ILAits *trmik perlods ndA restriete thgir mor^.. ?s .It4ala,n it DMin ina the wttle- ned Coonsremm. 5. ratioat rutn.m asiceto lva in 1942 yfttlo~ income a Ottated &t 2,0414,363,010 soes (U0 $ 310 miljl<na st6.50 #*le# per dollsr) of vidh Ari&turc reprsn*te 33%, OöMnra sortces 13ý, M-ininsg 14,1* Mxmfmetnxr«n- 14V. Tiånde 104. G,ovwrtment 9«, and th tata 5%.ön m ~ner mrpit^ lk!XI Mtml 1.nem Anomte, t* tyg $ 46 Go~pre with the t -Antrtenn ~v~rae v~ f U3 100. As uch prianry atIvit~es as cultr~, Livectiok, MIn.r -d Gover~ent -cmt for 56 of tonal inesse par mybe reespded a bh1ine in~ the earlir tagJ'e of aconomic~ evoluti1on. In terMB- of wen incme it Äill be nted tht the Coxt f lvin Ind* has MTanc#P frorm 1W in 1937 to 2Cl by Octolber 1947 eng wh401sa1% priea from 100 to 353 at of the d*e. whres mes hae Iagged mehind riing on the averge fron 0 to 199 en thS couposite index wh*ih inUlaes the ootton, s*~, o*p,lr, toba*0o and electrUcal industri**. Thee rise refeOtin inflattomary tnfluenos bava occurrod devoItfly the fovermnt's Atte~p* nu pria* entrol aind %ubIde* to essen al foodstuffn. Tha Pra~=a ~CntAr =nit i thm v4 vhich hNs oa fiileea valne of 6.50 ole% to thn . OOll an4 4 fr ~o .rket rate of 10 ales to the dolur. Koney cir~uation has arued einee "9 to 655 MIllelln *ol n$t20e result of domestie remdt p~ion, 334 by m Cetri cee nd 321 b the conercial. bwnks, Vf1ch nors th" ofoset thc drkin r for<%c a ge raserves tn 1946 -44 enr1j? 1947. 93Y of :ristandin Centra1 bak Oredits as been granted to the 0o1m~nt larnol to 00~ b~Oetry di.ttoitc. he ba>nc systa oonste of the Central Reterve a (priately- ownod blt vith GOverment participation on the oad of Director). 9 cömmcerc tal an& avings bank irith 12!: branches, 2 »rafrt~- b,zntkm, nnå three overnent developMent bank för agrlelture, lxaustry ad Itning respoetively. Totnl asOts f CO~nrCiO andaing banks vwer 1.7 tillion sole Ohovine en *xpaf- sien of 300 since 1937. 9eserve requirements aro fixd by law at 150 of de- Ond deposite, 6% of tine dep~ttm. The dentral bank ha excltsiv* rtght of currenoj isse end ls the depository for comaerdcal bank räsrves. 1xaiatlon ot the baIng sttuatln *hovs that the central bank ts in faot ontröllted by the GOverne*t and It* "esurCes hets beet dravn topn heavly to fi!nne budgetary deficit operattos. Whe centnl VnJ has only weak movers In matter* of forogn e*han psltoy and no powr to control coMftreta b»nk credit policy by tIncreaing dest reserve requirements or by plaiÄ coilinP on cometfl ast Ioas. The coweroial banks bave nsbunant lui6 res oes Vhlch hove-t are 4,reetsd by lav tor4 qhort-tm lo»n in the now3Y nnrket rather than to pronttvo ltans In the InvOstment >r xnital wrket. The de- vclopmet baks a4s 11AItM resouroes nr the capttl market te poir dive,- oseå. Conasi4rable amount8a ofcpttal are hela ontsids the contry or in thort term Xo-as nhich ba trouht about addoa preur urea the balancc of payments and upoa %oner term teret rates. 7. Eb1 finae & xgblie D.bt Pablle fU*nce in Peru is coated upon a *trongly CeotralicA basi. practially all revne*e g to the ederal Goverment htoh la tura adtnistere nearly all brnehee of the public srVIce. The only autonomens wabdtrtestns are the unitpalities govrned by local board* which dlnimter striotly 1ocal afairs la the lsti 30 yars there bas not been a stsge anmaal budget without i defilet. ~eforn 1930 deftictt wer f£IanOd hy torecn lon; since 1930 loan froo the Central Reserve nk have fIse the gay. in anntal budgets. The - 9 -a inflation of recn years ha had It orin minly in thit policy. 94e uprd tren of Government etitures shows at thi writing no s"ns of dsolining. .*zliturem incr~sed from 231.5 million sales in 1930 to 642 Afllion soles tia 1943. Because of th* political stalemate 4-nd the 4po$sbillty of convnig Cogrews the 1.947 bud,et vill be repeato& for 194$, ,te 1947 budget called for expenCituret of 1.120.9 million soles, 30$ nre apora 'riata för the Army, avy and Air Force, and the baance to other (oVeent serice . Reve a increaed from 179.9 Mllion soles in 1939 to 025.3 MIlion soles ta 19? n d comtimed to a b1wad expaitures an anmal average of 256 aillion sles or 75. Although revenec bgve incrsed n toode& to narrv the grkp Ath e:tpenitures as a result of tpva reviC&on of sOM tpX rtttn, and PASition of new ta*. ordinary revenues ar uale to tover emptnttures as preuontly projeoted. Qov*rmeat borowiung uith 61 iti monetary r inpications rppears dostixo& to contimae. laternal 7eiaral debt reore@ntig borrow:o C4frj tn Gentral esereo S&t rose from 152.9 ailion soles in 1940 t- 689.9 nillion solee by the crA of 1946 a ~fording an Illtstration of the extent of deficit fiancing. karni1 externl fted debt as of eåber 31. 194? me oxit#taning in the terma of origm* capital vnlues in th^ total mnt of i og109.t nillion. It Conists of tour U.S. isses 03 $ 93.7 million) Cn1 three British tSsues at 3.8 Xillion nm*e stering or CS $ 13.5 milion. it ster!a-Lin conerted tnto dollare at the Cnat rate of DUCInge. Durlng the pas4 fev ~sars the Oo"er, ent has ~ght t* r«emaeas s -re.usnt with ts toren fran bdholders. The pre~eht plan whch hag ben rejted by röreIgn Bandholder' a Protective council in N*w Tork bas been oftend dirotly to the bodhnl4dere for accoptae by J~ne 1943. the pla anCels all past due iter*st, narly all paymnts on which lave been ngpned times 1931, recog!izes face aants and offert intereet at 1% in 19137 mM 1940, at 1-12% nt 1949 an& 1950, at 2% ~ril¥, 1951 ^i 1952, ned- 2 therefter, vith reatmptioa at 4% aanfl. Onaly a Omil percentace of bond- holdern hav* r,nented to the plan. Thez vrncipal fter of rlo<twg rrterzmiYdebt an ~W Q W.2' tt ~nat fr> in X ort-atneort 3aak loinm, curteti trr US $ ts$.0>C It;at fcr th~e tents Ueg:y $iydroeletrac proJeqt, Prnsri creditr totVl$zr '$ t 57 -Ait2on z:eta nat itilitr, the luist '- 25 filim of dth exIred cNe3b 31, 6 17hø retton for flts faiWnr to utlir* thj. r4re1toert:17 t efø disreonzt o'er rçow! tretdrnt eS thet etf'fl fnzdeA debt. 8. tor4fn ?ra4e and Malann of Tarment. P*ru, r-nkimk ,,, hth in tørntga trate ~'t otr lattn Aren nmtt*ns. 1* etvtty døpoMent upot overt"" markts to sell its drinctps1 exprts of cotto, <ewar, cØjpper and petroini ni$ to w'ptiy nnznfaottred goods. taåtLI equipnent* vna øome toodstufft. lat 1946 e'sorte ,nowite& to US 3 t$l.5 mnton na4 $eiorts ØetRe US $ 154 ¶p fros t'n t ?'?6 million xn& tT$ t 6z unfton tespecttflly tit 193S. Trot» the pohnt of view eif volumleu, h,wver> 4szports were Vrrtazly ne ohangdfra rrj138a åmsport M&a 4eereaeød 25J røttootng Zozrqr dføstt pre' tution. Prtnøtpal. wtomrs of P'ertt are the Vnite4 flatos et 25$. Chile 191, Great 3rttu s,t n Uru«tny 6St. The prin4ppal uopp4ter for bera are the Unite4 'atsøe 564. Alrentna Wf, cresd 5rtt±a 61, ana Chile 5% 2he prenr ?tttern *f fornign It.d øben that Untte& 4neos xne the principal cuøtoaøir at 23Á> tdov.4e by' the Uh±t.& Stat.. at 22S, eGersn i4.4 Irane 7%. Th t.S. renidet the priaet,a1 gmpliar at 36<. feflled by Ufrntn at 2t3f, the tin1tedt Kfigam 1iø, nd ArgentiUfa 54 ?hs bflane ef payuøutu sne favrable to ?ørn feon 1938 t 14S Int tø X146 t!tre nourre& an ofnflabla hiaane of 91 % 7å siVion. A1th~On,t Ctw -orte rewtpt. raa a reert fiire Is j146, rraymett for fmport# rlu# åtvk- se nM interest øu ften nØptal investø& in ?orn tmr^ rflot tice' thos for forner yeare. nte preslsure en the belanee nI payments is rttstted tby& 4øtline of officit gnLå and foreign exchanwa høtdiV's from a hi)h of tYS fl 40 atfltqon in &reh 1946, illntntting P»n'u lurer rate øf beneflt fron nar - 12 - cnl is currøntly quoted at 13.50 *lins. The reent Øcbnge systøm provlåen tLat g11 export proceegs except those of pol4, be s14 to the C*utral 2atn art tho offietal rate of .50 soln" to the dollar. Procoeds fr. 4* oId aaItn to thte centra bank r yold er;ott arn 5ol in a tre ærket throu4t t% eftt oZ certificaten. Oftiotal exohnge solA at th 6.50 ses rat a iroride for Category Å 4"ports. which in#td¶ gover.ment 4mports, M*dicinA, imzorts 2eeda0 by the -ort inåntrios. and raW vvttrialt for domtttstic Instriøs. Z;at*gory .ø leo#øary ;oaods", are provided with a lisited Azount of the 6.50 aoles official r:hsAwe. Cattgory 0, "uøful {;codt, are ni prorided with rniy Gfficial exevwae aan at reaort to the freo marhet. n tmportÆton of 1V'tVry coods io ;prohbt½ nt thts time. te a$ova rstnn has br&tzht same stabflity to the~ ezc&rngo situtto a hi,s ewbled renervaa to rfover fron their loe' at prevonaiy pointve. out. it not Ve ultimate soXtlo. Tbe 6.50 nle* *"ate 3p~3as to overrine the so ls n import rnte. Tho ezcof dea tfr $ports over exclrne resources avaflable rawe rprded partialy as another sytpton of internal inflationatry inifluen*os. The t4Uødmiar devetoisent prgn was abditted Vy the PreS!$dent t. the Uon~ret* in 1947 '# t1 #in genn r) M*s*ri,t ion C~ro"tIo lij¡gg5-w L&ýW ;,tr to"1ot rtfø Re,46s) financ, Afriltual &nk Zwp)tl ticrrnse 10 COn xationt Hajøg ant $lhua TaIe I6& 3r.ac of ?ayment, mtnalX Vortst Cæni4sjton capttat tzor<asé 20 IHen1th and Wefate Construatton lospttaiø vnd 3eath Centers;4 I graot0 & Colonzation Oøter lzhools l ntgry 4urters. tnstattons 45 Industry 7119nue. Industrial 2anic øsinttåterss tucøts !ranspørl 4 Ooiun&oatitons dir, systmetof Atrports 2 itihwcyz1 Thn At. 11fl. øøtrpIøtton a conøtractona 100O tnte'tor feed.ers Mfiradu. >ataranut (new prt) -. l, Joy SR, 20 Sea, Port faCtiitieS ænetrtcttnO2 b) flrnnoing (sttLtons o?føsles) flrgtary SpoSta Apropriatt*na 105 lew taxes for road onstraosot10 4peWia Tinazse, othar thas tnflat.ueeas29 Tttal 530. fl 14 A VroJnet s already inéir cntruatton on a modtti. ucala incZle the fo114win4 Source ot Am.at nstalaion *Cg h50*e000 S3att Tally itltr3e. 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