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English definition of “rectify”

rectify

verb [T]
 
 
/ˈrektɪfaɪ/
to deal with a problem or mistake so that it no longer exists: How do we rectify the alarming fall in stock market performance?rectify a problem/situation/mistake The CEO and upper management pledged to take the necessary steps to rectify the situation.be rectified Marketing strategies appear to have been weak and this must be rectified to facilitate growth.
FINANCE to spend more money or to make additional payments in order to deal with a difficult financial situation: The President failed to deliver on his promise to rectify the public finances. Contributions to the pension fund have been increased to about £1m annually and the firm expects this to rectify the shortfall within about 10 years.
(Definition of rectify from the Cambridge Business English Dictionary © Cambridge University Press)
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