An economic challenge refers to an obstacle or difficulty faced by a country's economy that negatively impacts its growth, development, or stability.
Growth: The increase in the value of goods and services produced by an economy over time.
Development: The process of improving living conditions, reducing poverty, and increasing standards of living for individuals within a society.
Refers to the state of an economy when there is consistency in prices, low inflation rates, steady employment levels, and sustainable economic growth.