noun
local government finance
Refers to the financial affairs, budgets, and fiscal management of prefectural and municipal governments. Often contrasted with 国家財政 (national finance).
See also: 国家財政
地方財政の健全化が大きな課題となっている。
The soundness of local government finances has become a major issue.
この町の地方財政は厳しい状況だ。
This town's local finances are in a difficult situation.