Economic restructuring refers to significant changes made to a country's economic system, often aimed at improving efficiency, productivity, and competitiveness.
Related terms
Perestroika: A policy introduced by Mikhail Gorbachev in the Soviet Union aimed at restructuring the economy through decentralization and limited market reforms.
Privatization: The transfer of state-owned enterprises or assets to private ownership and control.
Deregulation: The removal or reduction of government regulations and restrictions on businesses to promote competition and stimulate economic growth.