fiscal austerity
Government spending cuts
Fiscal austerity refers to government policies that reduce public spending and increase taxes, typically implemented to shrink budget deficits or reduce national debt.
Such measures often include cuts to social programs, public sector wages, and infrastructure investment.
The term carries negative connotations for many, as austerity policies frequently fall hardest on lower-income populations.
The country implemented strict fiscal austerity following the debt crisis.
Critics argue that fiscal austerity during economic downturns can deepen recessions rather than promote recovery.
- troikaSet of three, Russian-derived
- privatizationState sells public assets
- unemploymentBeing without paid work
- recessionProlonged economic decline
- deficit reductionShrinking budget shortfalls
budget deficit · spending cuts · social unrest · tax hikes · neoliberalism · Thatcherism · IMF · public protests · income inequality · debt restructuring · deregulation · social inequality · sequestration · sovereign debt · bond markets · pension reform · safety net · essential services
- austerityspending cuts, budget cuts, deficit reduction, belt tightening, cost cutting
- fiscal crisesdebt crisis, budget crisis, budget deficit, debt ceiling, government shutdown
- fiscal policybudget deficit, deficit spending, national budget, budget surplus, budget deficits
- taxationtax, income tax, sales tax, tax return, tax refund
- public financepublic debt, budget deficit, tax revenue, budgets, expenditure
- neoliberalismfree markets, deregulation, privatization, free trade, liberalization
fiscal austerityfiscal stimulus
Government spending to boost economy
stimulus spending · deficit spending · government spending · quantitative easing · pump priming
fiscal austerityKeynesianism
Interventionist macroeconomic theory
Keynesian economics · social democracy · interventionism · big government · progressive taxation
austere, austerity, fiscal, austerely, fiscally, austerities, fiscal year, fiscal policy