With the declaration of Martial Law in the Philippines, the President has in effect terminated the era of laissez-faire and begun the era of a more controlled economy. This means that the government can exert a far wider and more potent influence on all activities, including those in the economic field. The development plan of the present administration is a public document showing how the government machinery and resources are committed to specific objectives and growth targets. If it is to be taken more seriously by the implementing authorities as being more than an indicative plan, its contents should be analyzed for their possible implications for the country's physical growth.
The Four-Year Development Plan for FY 1972-1975 is a continuation of the Development Plan for FY 1971-1974 both were made during and for the Marcos Administration. Technocrats view these four-year plans as part of a rolling plan geared toward long-term objectives. This concept of a rolling plan is advantageous in that it allows more flexibility for the plans to adjust to more recent developments in the domestic as well as international economies. In addition, it makes possible a more comprehensive evaluation of economic performance in relation to the plans and the incorporation of improvements in the methodology of identifying or specifying the important relationships in the economy.