The Five-Year Development Plan 1989-93 incorporate new ideas regarding the procedure of its elaboration and evaluation and constitutes an effort to adapt development planning to today's conditions.

The main innovation was the provision for a systematic follow-up of the Plan on an annual basis and for a revision of its various programmes, measures and objectives when considered necessary. The provision for an annual evaluation of the Plan secured flexibility and adaptability to the rapidly changing conditions and consequently to an efficient materialisation of its provisions.

Another important procedure introduced in this new Plan was the extensive participation of the private sector throughout all the stages of the planning process, including the evaluation of its implementation. This active participation was considered necessary, since the successful implementation of the Plan significantly depended upon the response of the private sector. In general the Development Plan 1989-93 aimed at achieving high growth, balanced sectorally and regionally, under conditions of economic stability in the price level and in the Balance of Payments. Preconditions for the realization of these objectives were the technological upgrading, the improvement of competitiveness in all sectors of the economy and success in the effort to further penetrate the renumerative European market.

Source: www.kypros.org