Khatami's economic policies followed the previous government's commitment to industrialization. At a macro-economic level, Khatami continued the liberal policies that Rafsanjani had embarked on in the state's first five-year economic development plan (1990–1995). On 10 April 2005, Khatami cited economic development, large-scale operations of the private sector in the country's economic arena and 6% economic growth as among the achievements of his government. He allocated $5 billion to the private sector for promoting the economy, adding that the value of contracts signed in this regard has reached $10 billion.