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I. The Belgian economy in 1965 -Trends in demand -Supply conditions -Prices and Incomes -Public finances -Money and Credit -Foreign trade and the balance of payments II. Trends in the early months of 1966 and prospects for the year -Prospects for the year 1966 III. Current economic policy problems -Public finances -Measures concerning prices -Credit policy -General objectives for short-term policy IV. The Luxembourg economy in 1965 -Prospects for 1966 and trends at the beginning of the year Conclusions Statistical Annex.