Economic Resilience

Economic resilience refers to the capacity of an economy to anticipate, prepare for, respond to, and recover from adverse conditions or shocks, whether they are natural disasters, economic downturns, or external stresses. It involves the ability of individuals, businesses, and governments to adapt and maintain functionality in the face of disruptions. Economic resilience encompasses a variety of factors, including the diversity of economic activities, the flexibility of labor markets, the robustness of financial systems, and the effectiveness of policies and institutions. A resilient economy can not only withstand shocks but also seize opportunities for growth and innovation in their aftermath, contributing to sustainable development and improved overall well-being for its population.