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Meaning of “austerity measures” in the English Dictionary

"austerity measures" in Business English

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austerity measuresnoun [plural]

uk   us   ECONOMICS, GOVERNMENT
official action by a government to reduce the amount of money it spends, or the amount of money that people in a country spend: The government has imposed harsh economic austerity measures to contain the crisis. Austerity measures announced today include a €5 bn cut to the welfare budget.
(Definition of austerity measures from the Cambridge Business English Dictionary © Cambridge University Press)
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