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

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Energy- Money for Oil

countries will spend an estimated $ 50 billion on importing oil in 1980, And, assuming that their domestic energy production will grow at the same rate as in recent years, about 7 per cent annually, these countries' oil import bill will rise to $ 110 billion (in constant 1980 US dollars) by 1990. This is the assessment of the World Bank's "Energy in Developing Countries" published last month. As a proportion of their GNP, the oil importing underdeveloped countries' imports of oil will be 3,3 per cent in 1980, which will go up to 4,5 per cent in 1990; as a proportion of their export earnings, oil imports will be 26 per cent in 1980 and 32 per cent

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