Reform efforts

Failures to manage the national economy by five-year and annual plans in the mid-1950s led to a new trend, which can be described as the beginning of attempts to retreat from central planning self-confidence and as seeking initiatives in corporate and personal interests. The wave of the reform movement of 1956-1958 came. Discussions began on "commodity-money relations, greater use of" value relations, "and" indirect management tools. " Of course, this reform movement also affected the ways of working with money, it was supposed to free up space, especially for working with a bank loan. New ways were sought to improve the credit system to be more effective in securing the state plan in companies. However, these reform efforts were politically suppressed in the early 1960s, but only for a short time. The difficulties encountered by economic developments were particularly pronounced in the monetary area. Until now, hidden inflation became more pronounced in the late 1960s. The rise in inflation has been reflected in areas that have so far been very tightly regulated - in retail prices and wages, and has resulted in an inflationary surplus of purchasing power deferred in household savings. Efforts to reform the directive planning system culminated in 1966-1968. Even after thwarting these efforts after the occupation of Czechoslovakia by the Soviet bloc armies in August 1968, however, elements that were supposed to create a wider space for the functioning of money penetrated the methods of central management again and more and more intensively.