For much of his first term, Khatami saw through the implementation of Iran's second five-year development plan. On 15 September 1999, Khatami presented a new five-year plan to the Majlis. Aimed at the period from 2000 to 2004, the plan called for economic reconstruction in a broader context of social and political development. The specific economic reforms included "an ambitious program to privatize several major industries ... the creation of 750,000 new jobs per year, average annual real GDP growth of six percent over the period, reduction in subsidies for basic commodities...plus a wide range of fiscal and structural reforms". Unemployment remained a major problem, with Khatami's five-year plan lagging behind in job creation. Only 300,000 new jobs were created in the first year of the plan, well short of the 750,000 that the plan called for. The 2004 World Bank report on Iran concludes that "after 24 years marked by internal post-revolutionary strife, international isolation, and deep economic volatility, Iran is slowly emerging from a long period of uncertainty and instability".