five-year plan


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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.

five-year plan

see NATIONAL PLAN.
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Joint Chief Economist Rai Nasir claimed that all the four provinces will be bound to follow the five-year plan once approved by the NEC.
Speaking on ExpressFM radio on Thursday, he added that an agreement was reached with Prime Minister Youssef Chahed to make some changes to the five-year plan to update it and adapt it to new circumstances.
The Omani government sought to increase per capital of GDP, therefore it has increased public expenditure from RO33.8 billion in the 7th five-year plan to RO67.1 billion in the 8th five-year plan.
And the Dutchman, who hopes that striker Graziano Pelle (right) will fire his side closer to a European spot at Everton today, said: "We spoke with the board about the new five-year plan for the club.
The Ministry of Finance explained that the five-year plan has allocated 15 billion riyals and 160 million riyals for government investment over the next five years, which aims at achieving an annual growth rate of 3 per cent during the plan period.
Just look at the name of this plan, it has surprised many people: a central government's development plan can be continuously carried out for 60 years, and the thirteenth five-year plan is already on the way of implementation.
While the 12th Five-Year Plan prioritised rebalancing the economy, the new plan adds context - stressing the importance of switching from investment-driven growth to a more balanced model that emphasises unleashing the potential of service consumption.
Early reports on China's Five-Year Plan outlining the government's strategic priorities for 2016 to 2020 indicate preparations for slowed yet more sustainable economic growth.
The meeting, chaired by Prime Minister Habib Essid, enquired about the economic situation, the results expected in 2016 and the policies suggested as well as the development scheme and its conformity with the guidance note of the next five-year plan, which is the reference framework for the development of the 2016 state budget, said a Prime Ministry press release.
The delivery follows a period of significant investment, which is part of a five-year plan to grow the fleet size to 375,000 by 2018.
The priorities of the current five-year plan are higher quality growth, increased domestic consumption, and the development of modern industries (which includes new energy sources, biotechnology, automobiles, and IT infrastructure).
Making changes to the five-year plan is possible if the oil price plunge demands that.