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Austerity measures are reductions in public expenditure, increases in taxation, or both at the same time.

Austerity and fiscal balance
"Under Brussels' supervision, periphery governments imposed austerity measures to rein in government spending and restore balance to the fiscal finances."
The Treasurer magazine, Cash Management Edition April 2019 p22, Frances Coppola, economics and finance commentator and speaker.


Difficult economic conditions following government measures to reduce public expenditure.

See also