Economic development is the sustained, inclusive growth of an economy that involves improvements in various aspects, including income, employment, infrastructure, and living standards.
It encompasses both quantitative and qualitative advancements in economic structures, fostering increased productivity, innovation, and global competitiveness.
Economic development often involves policies and initiatives to reduce poverty, promote investment, and enhance the overall well-being of a population. It’s a multidimensional process that seeks to create a more robust, diversified, and sustainable economy, contributing to the overall progress and prosperity of a society.
