Definition, Meaning & Synonyms
fiscal-prudence
noun
/ˈfɪskəl ˈpruːdəns/
Definition
Fiscal prudence refers to the careful management of government spending and revenue collection to ensure economic stability and sustainability.
Examples
- Governments must exercise fiscal prudence to maintain a balanced budget.
- Fiscal prudence can help in weathering economic downturns and uncertainties.
- Investors look favorably on organizations that demonstrate fiscal prudence.
Meaning
It emphasizes the importance of making financially sensible decisions, often to avoid overspending and accumulating debt.
Synonyms
- financial responsibility
- budgetary restraint
- economic caution
