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Economy / North Korea

Macroeconomic Forecast North Korea

January 2005 | Macroeconomic Forecasts

> North Korea plans to open more markets and expand trading hours until late evening in an extension of the market reforms introduced in July 2002. The regime's tentative attempts to introduce entrepreneurship into the closed economy have had little effect, with energy shortages hitting industry and agriculture alike. Extending shopping hours will welcome employees to the markets, but runaway inflation will put the prices beyond many, prolonging the reliance on aid.

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