1.
austerity, tightening, retrenchment
The practice of reducing spending and cutting budgets, especially in government or organizational finance. Implies strict belt-tightening measures.
緊縮財政を実施する。
To implement fiscal austerity.
政府は緊縮予算を組んで財政赤字を減らそうとした。
The government drew up an austerity budget to reduce the fiscal deficit.
長引く不況の影響で、企業は緊縮経営を余儀なくされている。
Due to the prolonged recession, companies are being forced into austerity management.
USAGE:
Almost always appears as a modifier before financial or economic nouns. Strongly associated with government fiscal policy and corporate cost-cutting. The word carries a serious, formal tone.
COMMON COLLOCATIONS:
- 緊縮財政: fiscal austerity
- 緊縮予算: austerity budget
- 緊縮経営: austerity management
- 緊縮政策: austerity policy