1. Inaugurate: (v) to mark the beginning of a new period, style or activity
2. Boondoggle: (n) an unnecessary and expensive piece of work, especially one which is paid for by the public
3. Proceedings: (plural noun) a series of events that happen in a planned and controlled way
4. Sovereign: (n) a king or queen, or the person with the highest power in a country; having the highest power or being completely independent
5. Slump: (v) (of prices, values or sales) to fall suddenly
6. Administrative: (adj) relating to the arrangements and work which is needed to control the operation of a plan or organization
7. Balloon: (v) to get bigger and rounder; to quickly increase in size, weight or importance
8. Alongside: (adverb) next to, or together with
9. Austerity: (n) the condition or policy of living without things that are not necessary and without comfort, with limited money or goods, or a practice, habit or experience that is typical of this
10. Shrank: (shrink) (v) T] to become smaller, or to make something smaller
11. Infrastructure: (n) the basic systems and services, such as transport and power supplies, that a country or organization uses in order to work effectively
12. Limbo: (n) an uncertain situation that you cannot control and in which there is no progress or improvement
13. Impoverish: (adj) made weaker or worse in quality, very poor
14. Assessment: (n) when you judge or decide the amount, value, quality or importance of something, or the judgment or decision that is made
15. Contingency: (n) something that might possibly happen in the future, usually causing problems or making further arrangements necessary
16. Intensify: (v) to become greater, more serious or more extreme, or to make something do this
17. Privatize: (v) If a government privatizes an industry, company or service that it owns and controls, it sells it so that it becomes privately owned and controlled
18. Concede: (v) to admit, often unwillingly, that something is true ; to allow someone to have something, even though you do not want to
19. Yield: (v) to supply or produce something positive such as a profit, an amount of food or information
20. Conceive: (v) to imagine something