Benefits of economic development planning

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• Ensures proper resource allocation/utilization.
• Ensures equitable distribution of resource/income/regional balance.
• Reduces the level of unemployment problem.
• Corrects BOP problems.
• Ensures stability in prices.
• Ensures self-sufficiency/reduces economic dependence.
• Promotes resource mobilization.
• Encourages public participation in the development of the economic dependence.
• Promotes resource mobilization.
• Encourages public participation in the development of the economy.
• Harmonizes/ensures consistent use of resources.
• Means of attracting foreign aid.
• Helps in identifying areas suitable for public and private investment.
• Relates present to future trends; and targets.
• Corrects deficiencies of price mechanism, most especially during situations of rapid structural changes.
• Promotes economic growth.