Meaning of the word "against this backdrop" in English

What does "against this backdrop" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

against this backdrop

US /əˈɡɛnst ðɪs ˈbækˌdrɑp/
UK /əˈɡɛnst ðɪs ˈbækˌdrɒp/

Phrase

considering the circumstances or situation just mentioned

Example:
The company announced record profits. Against this backdrop, they decided to invest more in research and development.
The economy is facing significant challenges. Against this backdrop, the government is proposing new austerity measures.