ABSTRACT
Credit promotes a fuller and timely satisfaction of the monetary needs of enterprises for their economic operations. With the help of credit the socialist state creates a single centralized fund of monetary means that have been freed in the reproduction process. In connection with the implementation of the economic reform, the significance of payment credits and of their correct regulation also increases. The development of credit relations enlarges the material base for flexible maneuvering with resources for the purpose of raising the economic efficiency of social production. With the enhancement of the economic independence of enterprises, the significance of credit assistance will increase even more. Under socialism, interest differs fundamentally in terms of content and economic role from interest paid for loans in the capitalist economy. The strengthening of the role of profits, along with the expansion of credit relations, requires a better utilization of the mechanism for exacting interest.
