The Importance of Austerity Measures in Today’s Economy
Introduction: The Relevance of Austerity Austerity measures, often instituted during periods of economic downturn, have become increasingly relevant in 2023 as governments worldwide navigate through the aftermath of the COVID-19 pandemic. These measures entail reducing government spending, increasing taxes, or both, in a bid to improve budget deficits and stabilise economies. As nations grapple with…