Definition, Meaning & Synonyms

economic-reform

Noun

/ɪˈkɒnəˌmɪk rɪˈfɔːm/

Definition

Economic reform refers to changes implemented to improve a country’s economic performance and efficiency.

Examples

The government initiated several economic reforms to attract foreign investment.
Economic reforms are crucial for addressing issues such as unemployment and inflation.
After the economic reform period, the country saw significant growth in its GDP.

Meaning

Economic reforms can involve policy changes, regulatory alterations, or structural adjustments aimed at fostering growth and stability within an economy.