Word: billioned
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Dates: during 1950-1959
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...capita in 1955 was $187, v. $2,343 in the U.S. Even to increase the per capita gross national product to the present U.S. level by 1980−when Mexico's population will have doubled−Mexico would have to boost national output 2,500% (to $156 billion) and invest the astronomical sum of some $400 billion in capital. In Burma the same goal would take an 8,900% boost in G.N.P...
IRAN, whose two-year-old development program looks ultimately to a wholly free economy. Abol Hassan Ebtehaj, director of Iran's Seven-Year Plan Organization, said that his country will spend $1.1 billion in oil revenues to build "basic 'facilities which will create the climate necessary to stimulate private enterprise. Our philosophy is to develop and operate industry only when private capital is unable or unwilling to do so." While emphasizing that foreign capital is essential to the.program, Ebtehaj said that the country's greatest present need is for consultants, industrial managers, technicians. "Our need...
India, for example, had a successful $4 billion five-year industrialization plan that ended in 1955 after increasing national income 17.5%, per capita income 10.5%, industrial output 38%. Then India decided to launch a second. $10 billion expansion plan. But the expected foreign capital was not available, and costs turned out to be grossly underestimated. With the government forced to cut imports to save foreign exchange, food prices have risen 16% in six months. India's neighbor. Pakistan, is not much better off. Once the breadbasket of undivided India, Pakistan had virtually no industry. In the struggle to industrialize...
...private enterprise has been and can be a great force for economic and social progress." To increase its effectiveness in helping underdeveloped nations, Meany suggested 1) an International Investment Code under which nations receiving private capital or governmental technical assistance would guarantee investors against arbitrary treatment; 2) a multi-billion-dollar International Consumers Credit Fund ito underwrite long-term installment purchasing of consumer goods...
...that enrollments in the nation as a whole will surely be doubled . . . We must not only double the capacity in 15 years of a plant that we have taken 300 years to build, but we must pay for it in 1957 dollars, not 1857 dollars. It will take $1 billion a year for the next 15 years just to build the necessary buildings . . . And the annual operating costs will also rise from $3 billion a year today to $6 billion or possibly $8 billion...