Why were economic reforms implements?
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Structural reforms are important both on the conventional grounds that they boost long-term growth and welfare but also because they can take some pressure off macroeconomic policies. Better structural policies will help achieve fiscal sustainability and provide greater leeway for monetary policy.
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The purpose of national economic reform is to change the structure and overall direction of an economy. Reforms therefore can affect the amount of resources available to a country. They can also affect human rights.
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