1. A decrease in government revenue or a deterioration in fiscal health, characterized by reduced income, increased deficits, or weakening financial stability
The country experienced a fiscal decline due to decreased tax revenues and increased spending.
O país experimentou um declínio fiscal devido à redução das receitas fiscais e ao aumento dos gastos.
2. A period of worsening financial conditions affecting public finances or budgetary capacity
The fiscal decline forced the government to implement austerity measures.
O declínio fiscal obrigou o governo a implementar medidas de austeridade.