Yugoslavia - Economic memorandum

Report No. 1086b-YU Economic Memorandum Yugoslavia August 19, 1976 EMENA Country Programs I FOR OFFICIAL USE ONLY Document of the World Bank This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  -CURRENCY EQUIVALENTS Before January 23, 1972 1 US dollar - 12.5 dinars 1 Dinar 8 US cents From January 23, 1971 to December 22, 1971 1 US dollar - 15.0 dinars 1 Dinar = 6.67 US cents From December 22, 1971 to February 23, 1972 1 US dollar = 17.0 dinars 1 Dinar = 5.89 US cents From February 23, 1973 to July 12, 1973* Maintained a central rate of 1 US dollar - 17.0 dinars 1 Dinar = 5.89 US cents Since July 12, 1973 The Dinar has been floating. The rate of January 1976 1 US dollar - 18.0 dir.ars 1 Dinar = 5.56 US cents * All conversions of 1971 data into dollars in thi3 Report have been made at this exchange rate.  FOR OFFICIAL USE ONLY Page 1 of 2 pages COUNTRY DATA - Yu,Eoslavia AREA 2 POPULATION DENSITY 255804 km 21.2 million (mid-1974) 83 per km2 Rate of Growth: 1.0% (from 1961to 1971) 209 per km2 of arable land POPULATION CHARACTERISTICS (I1c,) HEALTH (1q7) Crude Birth Rate (per 1,000) 17.9 Population per physician 1104 Crude Death Rate (per 1,000) 8.4 Population per hospital bed 179 Infant Mortality (per 1,000 live births)40.0 INCOME DISTRIBUTION C1971) DISTRIBUTION OF LAND OWNERSHIP (1974) % of national income, highest quintile 39.2 % owned by Social Sector .. 15.1 lowest quintile 6 1 % owned by Private Sector .. 84.9 ACCESS TO PIPED WATER Q971) ACCESS TO ELECTRICITY (1971) % of population - urban 34.8 % of population - urban 92.7 - rural - rural 36.1 NUTRITION (1967-70) EDUCATION (i9_) Calorie intake 3151 Adult literacy rate % 85 Per capita protein intake 91.3 Primary school enrollment % 94 2/ GNP PER CAPITA in 1975 : US $ 1480 GROSS NATIONAL PRODUCT IN 197z,3 ANNUAL RATE OF GROWTH (7, constant prices) US $ Mu. % 1960-65 1965-74 1974 GNP at Market Pri .es 28,066 100.0 6.0 6.2 6.8 Gross Domestic Investment 7,937 28.3 7.5 5.9 9.0 Gross National Saving 6,750 24.1 9.1 3.9 -8.4 Current Account Balance -1,212 4.3 Exports of Goods, NFS 5,696 20.3 12.0 7.8 -1.6 Imports of Goods, NFS 8,31? 29.6 8.6 12.2 9.4 OUTPUT, LABOR FORCE AND/3 PRODUCTIVITY IN 1974 - Value Added Labor Forcer4 V. A. Per Worker US $ Mln. Mln. % US $ % Agriculture /4 3,765 16.0 3.8 45.0 1,003 35.0 Manufacturing & Mining 7,471 46.7 1.7 20.4 4,395 155.8 Other 14 12,276 37.4 2.9 34.6 4,258 150.9 Total/Average 23,512 100.0 8.3 100.0 2,821 100.0 GOVERNMENT FINANCE Federal Government (DinaraM1n.) % of GDP 1973 1973 1971-73 Current Receipts 33,012 10.4 9.5 Current Expenditure 31.735 }0.0 9.5 Current Surplus 1,277 0.4 0.2 Capital Expenditures 1,144 0.4 0.2 1/ Cultivable land. Private holdings are limited to a maximum of 10 hectars. 2/ Calculated by the same conversion technique as the World Atlas. All other conversions to dollars in this table are at the average exchange rate prevailing during the period covered. 3/ Preliminary. 4/ Total active resident labor force; 5/ Labor force in agriculture and non-agricultural private employment and accordir.gly total employment are estimates. Note: Figures may not add exactly due to rounding. not available not applicable [ This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  Page 2 of 2 pages COUNTRY DATA - Yugoalavia MONEY, CREDIT and PRICES 1907 1UI 1922 1973 1974 (billion of Dinars outstanding end period) Money and Quasi Money 74.8 93.6 121,1 162.9 202,5 Bank Credit Households 13.4 15.8 17.6 21.3 28.6 Bank Credit to Socialist Enterprises 142.6 167.0 196,7 227.6 280.1 Bank Credit to Public Sector 21.7 31.6 37.1 45.8 54.6 (Percentages or Index Numbers) Money and Quasi Money as % of GDP 42.8 43.1 45.1 51.3 47.8 General Price Index (1973 = 100) 61 70 82 100 119 Annual percentage changes in: General Priuc Index 10.9 14.8 17.1 22.0 19.0 Bank credit to Households 45.7 17.9 11.4 21.0 34.3 Bank credit to Socialist Enterprises 20.9 17.1 17.7 15.7 23.1 Bank credit to Public Sector 22.6 45.6 17.4 23.4 19.2 BALANCE OF PAYMENTS MERCHANDISE EXPORTS (AVERAGE 1972-74) 1972 1973 1974 1975 US $ Mln % (Millions US $) Agricultural Products 314 10.6 Wood Products 253 8.5 Exports of Goods, NFS 3,425 4,407 5,696 6,375 Textile & Leather Products 416 14.0 Imports of Goods, NFS 3,821 5,168 8,312 8,760 Non Ferrous Metalurgy 384 13.0 Resource Gap (deficit = -) -7VY' -7E1 -2,61T 2,385 Capital Goods 406 13.7 Other 1,192 40.2 Interest Payments -165 -222 -192 -275 Workers' Remittances 889 1,310 1,511 1,575 Total 2,