THE SOVIET

Nelson Evening Mail, Volume LXXII, 31 January 1939, Page 6

THE SOVIET

THIRD FIVE YEAR PLAN INCREASE IN NATIONAL PRODUCTION iC.P.A.— By Electric Telegraph—Copyrightl j (Received 31st January, 10.25 a.m.) j MOSCOW, 30th January. The third fh*e-year plan begun in 1937, details of which are released for the first time, demands that national production reach £7.200,000,000 in 1942, which represents an increase 88 per cent, over 1937. The plan aims to 'catch up and surpass economically the j most advanced capitalist countries.” It is declared that the main object of j the second five-year plan has been ; achieved, namely, the technical reconstruction of the nation’s economy. Rus-, sia is industrially second only to the | United States, producing in 1937 80 per ' cent, of the required equipment. Capital investment under the present plan will absorb £4.480.000.000. The production of consumers’ goods totalled £2.720.000.000. It is aimed to reduce the cost of production by 11 per cent., double the volume of consumers' goods, and raise the workers to the cultural and economic level of engineers.