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Page "Economy of Venezuela" ¶ 10
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economy and contracted
Bulgaria's economy contracted dramatically after 1987 with the dissolution of the Comecon, with which the Bulgarian economy had integrated closely.
However, after more than three decades of unbroken growth, the Cypriot economy contracted in 2009.
Macedonia's GDP grew by an average of 6 % on a yearly basis until the 2008 economic crisis when its economy contracted with the rest of the world.
The country's economy actually contracted by 1. 5 % in 2009, due to decreased export demand in the US and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth, but saw 4. 5 % growth in 2010 thanks to a recovery in export demand and growth in its tourism industry.
Growth was slow ( 3 %) in 2001 due to a combination of factors ( a global recession, a series of bank failures, low coffee prices, and a drought ), and in 2009 the economy actually contracted 1. 5 % in reaction to the 2008 – 2012 global recession ).
As of December 2009 the Polish economy had not entered recession nor contracted.
In the 1980s, Switzerland was affected by the hike in oil prices which resulted in a decrease of energy consumption until 1982 when the economy contracted by 1. 3 %.
The economy was affected by a 3-year-recession from 1991 to 1993 when the economy contracted by 2 %, which also became apparent in Switzerland's energy consumption and export growth rates.
Low commodity prices and economic difficulties in Uruguay's main export markets, first in Brazil with the devaluation of the real then in Argentina in 2002, caused a severe recession — the economy contracted by 11 %, unemployment climbed to 21 % and the percentage of Uruguayans in poverty rose to over 30 %.
During the collapse of oil prices in the 1980s the economy contracted.
The economy contracted, and the number of people living in poverty rose from 36 % in 1984 to 66 % in 1995.
In the first four years of the Chávez presidency, the economy grew at first ( 1999 – 2001 ), then contracted from 2001-2003 to GDP levels similar to 1997, at first because of low oil prices, then because of the turmoil caused by the 2002 coup attempt and the 2002-2003 business strike.
The non-petroleum sector of the economy contracted by 6. 5 % in 2002.
Hit by a global recession, the economy contracted by 2 % in the second quarter of 2009, contracting a further 4. 5 % in the third quarter of 2009.
As of December 2009 the Polish economy had not entered recession nor contracted.
The Argentine economy contracted 4 % in 1999, and unemployment increased again.
By the end of 2002, the economy had contracted by 20 % since 1998.
During most of this period the economy of the Netherlands slowed or contracted, with the exception of the agricultural sector.
The government, besides cutting down official salaries and exercising strict economy, contracted ( July 1904 ) a loan for £ 3, 000, 000.
When the 1990 oil price shock hit in mid-1990, consumer spending contracted and the economy entered recession.
By the end of 1983, the country was bankrupt, and the economy contracted by 6. 8 %.
The Stock Market crash in New York led people to hoard their money ; as consumption fell, the American economy steadily contracted, 1929-32.

economy and 1980s
However, during the 1980s oil glut Alberta's economy suffered.
Nevertheless, since the late 1980s and the beginning of economic transition, Croatian economy experienced difficulties due to deindustrialization, war destruction and the loss of Yugoslav and Comecon markets.
Although perestroika was considered bold in the context of Soviet history, Gorbachev's attempts at economic reform were not radical enough to restart the country's chronically sluggish economy in the late 1980s.
By the end of the 1980s, the economy had made a healthy recovery, which weakened in the 1990s due to a decrease in banana prices.
Eventually, Afghanistan went from a traditional economy to a centrally planned economy up until 2002 when it was replaced by a free market economy Gross domestic product has fallen substantially since the 1980s due to disruption of trade and transport as well as loss of labor and capital.
Hayek visited Chile in the 1970s and 1980s during the Government Junta of general Augusto Pinochet and accepted being named Honorary Chairman of the Centro de Estudios Públicos, the think tank formed by the economists who transformed Chile into a free market economy.
The increasing dependence of the Honduran economy on foreign aid was aggravated by a severe, regionwide economic decline during the 1980s.
In the early 1980s, the cattle industry appeared to have the potential to be an important part of the Honduran economy.
The average annual growth rate of value added to the economy from the financial sector for the 1980s was the second-highest in Latin America, averaging 4 percent.
The approach to the building of socialism, however, varied over different periods in Soviet history, from the mixed economy and diverse society and culture of the 1920s to the command economy and repressions of the Joseph Stalin era to the " era of stagnation " in the 1980s.
A range of economic reforms were introduced in the late 1980s including a managed devaluation of the rupiah to improve export competitiveness, and de-regulation of the financial sector, Foreign investment flowed into Indonesia, particularly into the rapidly developing export-oriented manufacturing sector, and from 1989 to 1997, the Indonesian economy grew by an average of over 7 %.
With average growth rates of 10 % in the 1960s, 5 % in the 1970s, and 4 % in the 1980s, Japan was able to establish and maintain itself as the world's second largest economy from 1968 until 2010, when it was supplanted by the People's Republic of China.
However, in the second half of the 1980s, rising stock and real estate prices caused the Japanese economy to overheat in what was later to be known as the Japanese asset price bubble caused by the policy of low interest rate by Bank of Japan.
Throughout the late 1980s and early 1990s, American politicians and business leaders accused MIT and other universities of contributing to a declining economy by transferring taxpayer-funded research and technology to international – especially Japanese — firms that were competing with struggling American businesses.
Since the early 1980s, the Moroccan government has pursued an economic program toward accelerating real economy growth with the support of the International Monetary Fund, the World Bank, and the Paris Club of creditors.
Although the economy of Moncton was traumatized twice — by the collapse of the shipbuilding industry in the 1860s and by the closure of the CNR locomotive shops in the 1980sthe city was able to rebound strongly on both occasions.
There have been some minor efforts toward relaxing central control of the economy in the 1980s that involve industrial enterprises.
Nicaragua's economy was devastated in the 1980s by the Contra War, which saw the destruction of much of the country's infrastructure.
Several communist states had undergone economic reforms from a planned economy towards a more market-oriented economy in the 1980s.
Government economic policies deviated little from 1954 to the late 1980s, consistently favoring a strong private-enterprise economy with a large role for foreign investment.
Manufacturing and construction in the economy in the late 1980s remained dependent on developments in other sectors, such as agriculture and energy, for their growth.

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