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Austerity
(redirected from Austerity measures)

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Austerity
A program in which a government drastically reduces spending and/or increases taxes or other revenue sources. A government launches austerity programs when their deficit and/or national debt become unsustainable. The IMF and the World Bank often require austerity programs in exchange for restructuring or refinancing a country's debt. Austerity is usually politically unpopular because it may involve cutting programs like food subsidies or national health care.
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The "Bastion 2009" exercises are the biggest war games here since 2004, but they have been subject to austerity measures in keeping with the country's economic crisis.
Cuba repels mock US attacks in major war games by AFP / AFP Global Edition
The unions claim austerity measures the authorities want to introduce will force 'state' employees to leave their jobs on the island in search of work abroad.
Turkish Cypriots battle it out over 'emigration package' by Cyprus Mail (Cyprus)
The speakers called for adoption of austerity measures in the government expenditures as well as in the lives of the people in order to overcome the present economic problems facing by the country.
Need of adoption of austerity stressed by Balochistan Times (Baluchistan Province, Pakistan)
 
 
 
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