Spain's Economic and Social Transformation in the 1960s
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The Stabilization Plan and Economic Reorientation
Following integration into international organizations such as the International Monetary Fund (IMF), Spain faced the need for economic reorientation. A Decree-Law enacted a new economic order known as the Stabilization Plan. This plan had two primary objectives: balanced economic development and the integration of the Spanish economy into the Western world. It emphasized demand management, price stabilization, and the liberalization of foreign trade and foreign capital imports.
The Stabilization Plan set the stage for the growth of the Spanish economy in the 1960s. Its effects were positive, including reduced domestic demand and inflation, price stability, and restructuring of the external sector.... Continue reading "Spain's Economic and Social Transformation in the 1960s" »