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New Economic Policy

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noun
  1. (in the Soviet Union) a program in effect from 1921 to 1928, reviving the wage system and private ownership of some factories and businesses, and abandoning grain requisitions.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
British Dictionary definitions for new economic policy

New Economic Policy

noun
  1. an economic programme in the former Soviet Union from 1921 to 1928 that permitted private ownership of industries, etcAbbreviation: NEP
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012