Yes, PERESTROIKA is a Scrabble word!

Letter values in Scrabble US: P 3, E 1, R 1, E 1, S 1, T 1, R 1, O 1, I 1, K 5, A 1.

Is it a valid word?

PERESTROIKA is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

an economic policy adopted in the former Soviet Union; intended to increase automation and labor efficiency but it led eventually to the end of central planning in the Russian economy