Economy of SFRY

Despite common origins, the economy of socialist Yugoslavia was much different from economies of the Soviet Union and other Eastern European socialist countries, especially after the Yugoslav-Soviet break-up of 1948. The occupation and liberation struggle in World War II left Yugoslavia's infrastructure devastated. Even the most developed parts of the country were largely rural and the little industry the country had was largely damaged or destroyed.

Related Topics:
Yugoslav-Soviet break-up - 1948

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The first after-war years saw implementation of Soviet-style five-year plans and reconstruction through massive voluntary work. The countriside was electrified and heavy industry was developed. The economy was organised as a mixed planned socialist and market socialist economy: factories were nationalized, but they were not owned by the state — they were rather socially owned, which roughly corresponds to public ownership in other economic systems. Privately owned craftshops could employ up to 4 people per owner. The land was partially nationalised and redistributed, and partially collectivised. Farmer households could own up to 10 hectares of land per person and the excess farmland was owned by co-ops, agricultural companies or local communities. These could sell and buy land, as well as give it to people in perpetual lease.

Related Topics:
Five-year plan - Socialist - Market socialist - Socially owned - Public ownership

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