THE INTERNATIONAL ECONOMIC ENVIRONMENT In the spring, when the oil-price and the dollar had already fallen and when the correction of the US federal budget deficit seemed to be under way, the prospects for the world economy in general, and the Community in particular, seemed favourable.
L'environnement economique international. Au printemps, alors que les prix du petrole et le cours du dollar avaient deja baisse et que le redressement du deficit du budget federal americainseblaitamorce, les perspectives d'evolution de l'economie mondiale en general et decelledela Communaute, en particulier, paraissaient favorables.