👉 Austerities, also known as austerity or austerity measures, are economic policies that aim to reduce government spending and increase public expenditure on essential services. These policies are typically implemented in countries with high levels of public debt, where reducing public expenditures can help reduce the country's deficit and improve its long-term fiscal sustainability. In many developed countries, austerities have been implemented through various means such as cutting non-essential government spending, increasing taxes or fees for certain goods and services, and limiting public expenditure
