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HistoryContemporary MacedoniaThe post-war periodEconomy (1949-1960)

Economy (1949-1960)

The transformation of the economy
Industrial development

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The dam on the river Axios
The dam on the river Axios is part of the land reclamation works in this area, 1958, Athens, Constantine G. Karamanlis Foundation.

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After the wars and the destruction of the 1940s, the beginning of the Cold War as well as the exposed geopolitical position of Greek-Macedonia became obstacles to attracting investment and developing the region's economy.

As in the rest of Greece, a wave of emigration started from the mountainous areas to the cities or abroad, which had very unfortunate consequences for the economy. Still, from the early 1950s onwards, efforts were stepped up to improve communications and roads in the region, to repair damage to land reclamation projects, as well as to extend analogous improvements for agriculture, in order to increase production.

The dam on the river Axios
Constantine G. Karamanlis Foundation, 1958

At the same time, stock raising was successfully organised on a systematic basis, and agricultural processing plants and industries (refrigeration units, canning factories, animal feed factories etc.) were set up. These opened up prospects for both branches of the economy, raising the standard of living of those working in them.

See Also
History - Economy and Society (1914-1923)
The economy in the inter-war period

Macedonian Heritage
Content courtesy Ekdotike Athenon S.A.