thirty-ninth sessions and a final report at its fortieth session. Pursuant to that resolution, the members of the Group of Experts on the Reduction of Military Budgets were appointed after consultation'with Member States and the Secretary-General submitted progress reports on the work of the Group to the Assembly at its thirty-eighth and thirty-ninth sessions in 1983 and 1984, respectively (see A/38/354 and Corr.1 and A/39/399). The Group of Experts have constructed the price indices and purchasing-power parities of the States which had accepted to participate in the exercise and have thus carried out the mandate set forth in General Assembly resolution 37/95 B, The Secretary-General wishes to thank the members of the Group of Experts for their unanimous report, which he hereby submits to the General Assembly for its consideration. It should be noted that the observations and recommendations contained in the report are those of the members of the Group of Experts. In this connection, the Secretary-General would like to point out that, in this complex field relating to disarmament; he is not in a position to pass judgement on all aspects of the work acc.omplished by the experts. / . l l A/40/421 English Page 5 LETTER OF TRANSMITTAL 14 June 1985 Sir, I have the honour to submit herewith the report of the Group of Experts on the Reduction of Military Budgets, which was appointed by you in pursuance Of Paragraph 5 of General Assembly resolution 37/95 B of 13 December 1982. The members of the Group of Experts appointed in accordance with that reSOlUti.On were the following: Col. Vito Caporaso Chief of the Logistics-Administrative Office of the Army Staff Ministry of Defence Administration Command Corps-Army Staff Rome, Italy Mr. Hans Christian Cars. Deputy Director Ministry of Defence Planning and Budget Secretariat Stockholm, Sweden Mr. Jose A. Encinas de1 Pando 
**Analysis**
The text appears to be related to the reduction of military budgets, which suggests a connection to the field of disarmament and international relations. The mention of "purchasing-power parities" and "price indices" implies an economic aspect, possibly related to the costs of military spending.

**Category**
Industry, International trade