Which of the following measures were taken by the government to correct the balance of payment position of the country during the economic crisis of 1991? |
Structural measures Stabilization measures Situational measures Rigid measures |
Stabilization measures |
Stabilization measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. The government devalued the currency in order to increase the exports of the nation and to bring back the balance of payment position to the normal level. |