North Korea to set new five-year plan in January as economy struggles

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North Korea to set new five-year plan in January as economy struggles
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North Korea's ruling party will hold a congress next year to decide a new five-year plan, state media reported on Thursday, after a party meeting noted serious delays in improving the national economy and living standards.

North Korean leader Kim Jong Un addresses a plenary meeting of the Central Committee of the Workers' Party of Korea in North Korea, in this photo released August 20, 2020, by North Korean Central News Agency in Pyongyang. KCNA via REUTERS

The plenary meeting of the ruling Workers’ Party on Wednesday convened a congress for January to set forth “a correct line of struggle and strategic and tactical policies” after reviewing lessons from the past five years, the official KCNA news agency said. North Korea had faced “unexpected and inevitable challenges in various aspects,” Leader Kim Jong Un noted in a speech at the meeting, KCNA reported.

While the reports did not detail what the new plans might include, the mention of work by an auditing committee hints that the congress could be another step to press people involved in private economic activity to give more of their resources to state coffers, said Benjamin Katzeff Silberstein, a North Korean economy expert at the U.S-based Stimson Center think-tank.

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