Hmmm. I don't know the rest of the lyrics to put those lines in context. I associate five-year plans with the U.S.S.R.'s attempts to modernize and industrialize, mainly in the 50's and 60's (?). I'm don't know whether or not other nations used the term or the concept. The New Deal, as I understand it, was the package of reforms, programs, etc. spearheaded by President Franklin Delano Roosevelt to help bring the nation out of and mitigate the effects of the Great Depression.

As to just what the lyricist had in mind, or what those phrases refer to if not what I mentioned above, I haven't a clue.