Stabilization Plan

The Stabilization Plan of 1959 (Spanish: Plan de Estabilización de 1959) or the National Plan of Economic Stabilization (Plan Nacional de Económica) were a series of economic measures taken by the Spanish Government in 1959. Its main goal was the economic liberalization of the Spanish markets, marking a turning point from the previous policies oriented towards achieving autarky.

Francoism

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History Spanish coup of July 1936 Spanish Civil War White Terror Francoist concentration camps Spain during World War II Spain and the Holocaust First Francoism Stabilization Plan Spanish miracle Assassination of Luis Carrero Blanco Spanish transition to democracy
Ideology Anti-communism Anti-liberalism Anti-Masonry Anti-semitism Authoritarianism Falangism Militarism Monarchism National Catholicism Pan-Hispanism Spanish irredentism Spanish nationalism Spanish unionism Traditionalism
People Francisco Franco Luis Carrero Blanco Carlos Arias Navarro Juan Yagüe Manuel Fraga Blas Piñar Torcuato Fernández-Miranda Raimundo Fernández-Cuesta
Economy Economy of Spain (1939-1959) First Development Plan Second Development Plan Third Development Plan
Culture Art and culture in Francoist Spain Cantos nacionales • Cara al Sol • Censorship in Francoist Spain • DGCT • Eagle of Saint John • El Caudillo • El Generalísimo • Francoist mottos • Gender roles in Francoist Spain • No-Do • Revisionist historiography • Sociological Francoism • Symbols of Francoism • Yoke and arrows
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Related topics Blue Division Carlo-francoism Diplomatic relations Euskadi Ta Askatasuna (ETA) Francoist language policies Latin Bloc (proposed alliance) Pact of Forgetting Project Islero Second Spanish Republic Spanish Maquis Valley of the Fallen
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The implementation of the plan led to mass migration movements (internal migrations but also abroad), with the population and the economic activity concentrating in the most dynamic areas, hollowing the rest of the country.

The Plan led to an economic boom in Spain for most of the 1960s. The monetary reserves of the Bank of Spain increased, inflation dropped from 12.6% in 1958 to 2.4% in 1960, Spain attracted foreign investment, and the relaxation of tariffs led to the import of new technologies. On the negative side, unemployment increased due to the decrease in production caused by higher imports, which lowered the demand for national products. This decrease in production also led to lower consumption and wage freezes.

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