Updated: Aug 20, 2021

The central planning agency of the former Soviet Union. It was responsible for drawing up successive five-year plans and annual operational plans, and for auditing enterprises to check whether the plans had been fulfilled.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.