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The year 1948 has, in general, been a year of all-round improvement in the AFE region, although the progress cannot by any means be regarded as substantial or satisfactory. Such progress as has been achieved was tardy and uneven. Most of the region has continued to be afflicted by civil strife or other disturbances. More than three years after the end of the war, countries find that in no branch of their economy have they attained prewar levels. Agricultural production, which was slightly higher than in 1947, was still less than prewar. Production of cereals was about 4 per cent below the level of 1934-38, but that of fisheries continued to be about one-half prewar. Chemical fertilizer consumption, although higher by about 8 per cent than in 1947, was below prewar by about, 16 percent. The increase of over 10 per cent over 1947 in livestock and working animals is encouraging, but it will probably take several xii years before prewar numbers can be reached, as their present strength is barely 85 per cent of prewar. With the exception of rubber, which has exceeded prewar levels of production, the position of other industrial and agricultural products remains unsatisfactory.
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Macroeconomic Policy and Financing for Development Division +66 2 288-1234 [email protected]