This Favorit pull-chain design is very competent copy of a Huret from the 1950s. As such it forms part of a pattern that includes many of its various Eastern European comtemporaries, such as the Renak and Optima models from the DDR.
It has ball bearings in its pulley wheels, is well finished (but without the lush chrome of the Optima), and the spring tension adjustment has a pleasant feel to it. It also has quite racy geometry, with a short pulley cage at the pulley cage pivot about 60mm from the hub axle centre.
I think this is a quite lovely example of a later version, with the main body bent to provide a support for the adjustable cable outer stop, and the characteristic grip on the spring tension adjustment ring.
Pretty good for the 1950s, decidedly dodgy in the 1960s.