five-year plan(redirected from Second Five Year Plan)
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Related to Second Five Year Plan: 5 Year Plans
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.