West Besmenian economic crisis

File:Poor old man in Besmenia 1964.jpg

An unemployed man tries to make money. (1964 in Melmingia)

The West Besmenian economic crisis (Besmenian: Westbesmenische Wirtschaftskrise) was an economic crisis in West Besmenia triggered by various factors. The crisis started in May 1964. The consequences were the total collapse of the West Besmenian economy (the industrial sector was particularly hit badly hard), which also resulted that many people becoming unemployed, lacking food and increasing crime. The crisis prompted the beginning of public protests against the facist regime.

The crisis was finally overcome in April 1967.

Reasons for the crisis

There were many reasons for the economic crisis. The main reason was the general failure of the planned economy. Other reasons for the crisis were:

• Incorrectly stated annual plans for planned economy
• High debt due to missing exports
• Obsolete industrial machines
• Poor quality of products
• Environment destroyed by industry