engleski

The causes of the public finance crash in the Socialist Federal Republic Of Yugoslavia

The Socialist Federal Republic of Yugoslavia (SFRY) was a federal state consisting of six socialist republics and two socialist autonomous provinces. The self-governing form of government that existed in the SFRY, was based on the leading role of the League of Communists of Yugoslavia. Applying the hierarchical principle of democratic centralism, the League governed the state, including all the social activities, and it organized the economic activity that was based on the collective. Thus, the main feature of this rule was the absolute state-party control. The public finances were created by applying a very high degree of ethatization as well as the planned economy. Due to these two postulates, the public needs were often financed by generating inflation, or by using gray money. The unemployment in the SFRY was a very big problem, which was never solved completely.

SFRY ; inflation ; hyperinflation ; public debt ; external debt ; gray emissions ; economic stabilization

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