Table des matières

Introduction
I. Economic developments In 1977
-Targets and outcome
-Principal reasons for the slowdown of growth
--a) Weak export demand
--b) Reduction of public sector demand support
--c) Depressed investment climate
-The labour market 
-Prices, costs and incomes
-Exchange rate developments and the balance of payments 
II. Economic policies
-Monetary policy, money and credit
-Fiscal policy stance and its impact on aggregate demand
III. Mqjor issues in the present policy debate
-The role of wages in the recovery process
-Unemployment: cyclical or structural ?
-Limits to public sector deficit spending
--a) Government finance
--b) Public pension fund finance
IV. Short-term prospects
-The international environment and export prospects
-The impact of economic policies
-Household income and private consumption
-Private investment
-Aggregate demand, employment, and the foreign balance
-Major uncertainties and risks
V. Conclusions
Annexes
-I. Trends in profitability 1960-1977
-II. Chronology ofmain economic policy measures
-III. Public pension scheme finance
Statistical annex