austerity measures
Government spending cuts
Austerity measures are government policies that reduce public spending and increase taxes to shrink budget deficits, typically during economic crisis or as conditions for international loans.
The measures often target social programs, public wages, and pensions: The IMF demanded austerity measures before approving the bailout.
Critics argue they deepen recessions by cutting demand when economies are already weak.
- public debtState's accumulated financial obligations
- troikaSet of three, Russian-derived
- taxationCompulsory government revenue collection
- povertySevere lack of resources
- unemploymentBeing without paid work
inequality · social unrest · street protests · belt-tightening · fiscal policy · populist movements · privatization · wage freeze · tax hikes · budget cuts · deficit reduction · sovereign debt · debt crisis · bond markets · budget deficit · debt restructuring · public protests · spending caps
- PortugalLisbon, Porto, Algarve, Oporto, Madeira
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- public policypolicy making, policy reform, economic policy, policy recommendations, education policy
- austerityspending cuts, budget cuts, deficit reduction, belt tightening, fiscal discipline
- fiscal crisisdebt crisis, fiscal crisis, fiscal emergency, insolvency, budget deficit
- fiscal policybudget deficit, deficit spending, national budget, budget surplus, budget deficits
austerity measuresstimulus spending
Government outlays boosting demand
fiscal stimulus · economic stimulus · stimulus package · quantitative easing · deficit spending
austerity measuresKeynesianism
Interventionist macroeconomic theory
Keynesian economics · big government · interventionism · social democracy · welfare state
austerity measuressocial spending
Government outlays for citizens
public investment · big government · social safety net · universal basic income · welfare state