1. The progressive worsening of a government's financial condition, characterized by increasing deficits, debt accumulation, and declining fiscal health
The deterioration of public finances forced the government to implement austerity measures
A deterioração das finanças públicas obrigou o governo a implementar medidas de austeridade
2. A decline in the overall economic management and fiscal sustainability of state revenues and expenditures
Years of mismanagement led to a severe deterioration of public finances
Anos de má gestão levaram a uma grave deterioração das finanças públicas