economic difficulties vs financial difficulty

Both "economic difficulties" and "financial difficulty" are correct phrases, but they are used in slightly different contexts. "Economic difficulties" refers to challenges or problems related to the overall economy, while "financial difficulty" specifically points to individual or organizational financial problems.

Last updated: March 27, 2024 • 1081 views

This phrase is correct and commonly used to refer to challenges or problems related to the overall economy.

"economic difficulties"

This phrase is used to describe issues or problems that affect the economy as a whole, such as recession, inflation, or unemployment.

Examples:

The country is facing severe economic difficulties due to the global recession.
The company had to downsize its operations because of the economic difficulties in the market.

Show examples from the web [+]

Feb 15, 2009 ... Clear associations between current economic difficulties and CMD were found. Adjusting for work-family conflicts attenuated the associations ...
Mongolia is facing severe economic difficulties. Significant cuts in the education budget for 2017 and beyond greatly constrain the government''s capacity ...
Aug 6, 2020 ... ... COVID-19 lockdown on mental health service access and follow-up adherence for immigrants and individuals in socio-economic difficulties.
Listen to 'Aberdeenshire accent: Jim describes the economic difficulties faced by the local fishing industry' on the British Library's website.
Problematic anger and economic difficulties: Findings from the Millennium Cohort Study. J Affect Disord. 2022 Jan 15;297:679-685. doi: ...
Trajectories of depression and anxiety during COVID-19 associations with religion, income, and economic difficulties. J Psychiatr Res.
The key factor in turning national economic difficulties into worldwide Depression seems to have been a lack of international coordination as most ...
Jul 14, 2019 ... Afghan refugees who returned to Afghanistan between 2014 and 2017 tend to be worse off financially and face multiple economic difficulties ...

Alternatives:

economic challenges
economic problems
economic downturn

This phrase is correct and commonly used to refer to individual or organizational financial problems.

"financial difficulty"

This phrase is used to describe situations where a person, company, or organization is experiencing financial problems or struggles.

Examples:

She is going through a period of financial difficulty after losing her job.
The business faced financial difficulty and had to declare bankruptcy.

Show examples from the web [+]

The aids were granted because the company was in financial difficulty and needed restructuring.
Firstly, the borrower must not be in financial difficulty.
Furthermore, in most Member States, public authorities customarily pay late in situations of financial difficulty.
Such statements are a slap in the face for the hundreds of thousands of workers in financial difficulty.
Moreover, the Commission could not exclude that FN GmbH was a company in financial difficulty.
The insolvency directive offers employees valuable protection when their employer is in financial difficulty.
This has placed many farmers in serious financial difficulty.
To increase their profits, they have turned to households in great financial difficulty.
With our amendment, we hope to see Community cofinancing rise above 75% for organisations representing small farmers and family-run farms in financial difficulty.
They are restricted from operating outside their local geographic area and provide mainly small amounts of credit for low-income members and for those in financial difficulty.
Given that measure 5 was granted at a time when the Company was already in financial difficulty, it did not fall under the GBER.
(7e) Initiating court proceedings or disconnecting services without attempting to reach agreement on an affordable repayment schedule with a consumer in financial difficulty.
As a result of this, projects run into financial difficulty, and that certainly does nothing to promote the EU's credibility.
Subject: Potential conflict of interest for accountancy firms recommending administration procedures for companies in financial difficulty
It is necessary to provide assistance for those in financial difficulty, especially those who are suffering the most from rising energy prices.
The Commission also recognises the need for these guarantees, which are generally used in the sector and not specific to companies in financial difficulty.
Third, the Commission notes that Gdańsk Shipyard has been in financial difficulty for a long period of time.
When the clacks got into financial difficulty, the only person who could help them was Reacher Gilt.
It would then be necessary to clarify whether the firm in financial difficulty was the effective recipient of the aid.
Without the intervention, the club would have remained in financial difficulty, with the danger to go bankrupt and be relegated to a lower league.

Alternatives:

financial problems
financial crisis
financial hardship

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economic difficulties vs financial difficulty