Eighth five-year plan (Soviet Union)

The Eighth five-year plan (1966-1970) was a set of economic goals and policies implemented in the Soviet Union under the leadership of Premier Alexei Kosygin. It aimed to improve the efficiency of the Soviet economy through decentralization of planning and greater emphasis on consumer goods. Key elements included introducing enterprise profitability as a major indicator of success, giving greater autonomy to individual enterprises in decision-making, and streamlining the planning process.

The plan also focused on technological modernization and improvements in agriculture. Investment in agriculture was increased in an attempt to address persistent food shortages. Furthermore, the Eighth Five-Year Plan sought to improve the quality of goods produced, reflecting a shift away from purely quantitative targets.

While the Eighth Five-Year Plan initially saw improvements in industrial output and some advances in consumer goods production, its reforms faced resistance from entrenched bureaucratic interests who were reluctant to cede control. By the end of the period, the initial momentum had slowed, and many of the planned reforms were either scaled back or abandoned. The plan is often seen as the last major attempt at significant economic reform within the Soviet Union before the reforms of the late 1980s under Mikhail Gorbachev. While it produced some positive results, it ultimately failed to fundamentally address the structural problems of the Soviet economy.