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Economic Survey of Europe provides an overview of current economic developments in Europe, the Commonwealth ofIndependent States (CIS), and North America. In addition, this issue contains three special studies. The first covers macroeconomic trends and prospects in the ECE region. The second looks at policies for adjustment and growth. The third examines the social dimensions of economic development. This publication aims at providing information and analysis to policy makers and economists in government, research institutes and universities, as well as the private business sector and the public at large. The present Survey is the fifty-fifth in a series of annual reports.