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Five-Year Plan
(redirected from Five-Year Plans)

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Five-Year Plan
A multiyear plan for economic development prepared by a government. For example, a five-year plan may state the methods and the amount of development that should be experienced by the industrial sector by the end of the plan. Five-year plans were introduced in the Soviet Union and were adopted by most other 20th-century communist states. For that reason, the term is associated with command economies.


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The country has previous experiences with several five-year plans from the 1980s which were implemented after the country declared itself to be a socialist state.
Under the old Soviet-style system, five-year plans were highly specific planning documents that were the foundation of China's centrally controlled economy.
There is a cure period to resolve differences if the oversight board rejects either or both of the one-year and five-year plans.
 
 
 
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