ROSY PICTURE.

Auckland Star, Volume LXVIII, Issue 84, 10 April 1937, Page 18

ROSY PICTURE.

YUGOSLAV FINANCE.

BUDGET SURPLUS CITED. BELGRADE. Introducing the Budget for 1037-3S, the Yugoslav Finance Minister, Dushan Letitza, gave a glowing picture of national prosperity. Last year Yugoslavia had a Budget surplus of £2,000,000, owing to the increased yield in taxes, exports exceeding imports by £1,400,000 and foreign trade increasing 10 per cent. There was a great increase in savings bank deposits, while 2000 new businesses were started in Belgrade alone. The wheat harvest increased 47 per cent and maize 69 per cent, compared with 1935. The foreign trade balance shows that Yugoslavia is owed £300,000 more than she owes. * • Owing to the comparative stability of the dinar, Mr. Letitza said that many im countries where currency was unstable were investing in Yugoslav industries, mines and Government securities. The new Budget shows an increase of only £2,000,000, compared with last year.

An amendment to the Budget proposes complete free trade in gasoline and oil in order to encourage tourists and increase the number of motor cars in the country. The price of gasoline is now 2/10 a gallon. The amendment would lower the price 1/3 a gallon, thus encouraging the purchase of more automobiles. Reports from Rome are to the effect that Italy is preparing to offer Yugoslavia a two-year plan for economic collaboration. The scheme would involve Yugoslavia joining the Rome economic bloc, including Austria and Hungary. The inspired Press comments on the scheme favourably, pointing out that Italy and Yugoslavia, with complementary economic systems, would benefit greatly from the collaboration. Yugoslav textile manufacturers are appealing to the Government to apply measures to check the dumping of textiles, especially from Germany and Italy. "Dumped goods help to depreciate currencies and big export bounties are ruining our trade, throwing workers out of work," they claim. "A clause already exists in the Customs Act empowering the Ministerial Council to impose special duties on goods from lands where export premiums are given. The Government must apply the clause wherever it is proved that goods are offered abroad at lower prices than at home."

The manufacturers point out the success of similar control measures appl'.ei in the United States to check dumping.