The country of Slobobia has been in a state of economic decline for several years. The nation's political leadership have been unable to develop an economic plan to boost the economy and get the country back on track to prosperity. Gross Domestic Product (GDP) is down 25%, inflation is currently running at 15% per year, unemployment is at 20%, interest rates are at 12%, consumer spending is down 30%, business investment has been reduced to a very low level of replacing only broken or worn out equipment as needed and foreign trade has been reduced to importing food products to make up for supply shortages in the country. Needless to say, the country is in economic peril.

You have been brought in as a foreign expert to advise the government as to what measures need to be taken and to develop and implement an action plan. In your plan, show where the nation is in the business cycle, fully explore the economic policies you would implement, the time frame expected for them to show results and how you would track economic progress.