ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Defence of Democratic Rights

with whom Yugoslavia has trade relations. Earlier, the galloping inflation was blamed on external factors. The Chairman of the Federal Assembly's Chamber of Economy had enumerated the following factors as being responsible for the inflation in Yugoslavia: the damage suffered by Yugoslavia during the Second World War; periodic aggravation of international relations (e g, the confrontation with the Italian government in 1946 and 1947 leading to increase in defence expenditure); wars which broke out after the Second World War; inflation in other countries and other international economic- financial factors; devaluation and revaluation of some currencies (e g, the revaluation of the Deutsche Mark by 10 per cent in 1970 leading to a loss to Yugoslavia in 1972 of 1,027.1 million dinars on imports against a gain of only 448.5 million dinars on exports); the leap in the prices of strategic raw materials and certain foodstuffs; and the economic-political integration of Europe.

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