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Stabilisation Plan (1959)

The Stabilisation Plan brought about huge, structural changes to the Spanish economy. Free market reforms ended the corporatist economic system that had been in place since the start of Franco's dictatorship. The policy of autarky was also dropped as the government lifted import restrictions to encourage international trade. Other measures such as reducing government spending and ending price controls initially caused high levels of unemployment and inflation, however, during the the 1960s the Spanish economy grew rapidly as Stabilisation Plan encouraged high levels of foreign investment, particularly from the United States.

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