Usage Note
Austeridad refers both to personal frugality and to government fiscal austerity policies (medidas de austeridad). It is a feminine noun. Learners will encounter it frequently in political and economic journalism; recortes de austeridad ('austerity cuts') is a very common collocation.
Examples
"El gobierno impuso medidas de austeridad severas."
Natural Translation
The government imposed severe austerity measures.

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