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By Staff Reporters
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Austerity Financial Measures describe official actions (typically taken under duress) by financially challenged governments (those that are under the threat of otherwise not being able to meet all of their obligations to debt holders and other creditors) to reduce the amount of money they spend, freeing more of it for paying off liabilities.
Austerity measures commonly involve deficit cutting, reduced spending, and cuts in government benefits and services provided. They are considered a “necessary evil,” along with revenue-raising measures, for bringing government budgets back into financial balance.
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Filed under: "Ask-an-Advisor", Accounting, Financial Planning, Funding Basics, Glossary Terms, Investing | Tagged: austerity, austerity financial measures, austerity measures, budgets, financial balance, financial measures, liabilities, money |
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