Challenges in translating Economic and Financial terms:

The translation of economic texts is a significant form of translation as it pertains to

specialized topics related to finance, commerce, banking, business, and similar areas. This
type of translation is among the most precise and time-consuming, requiring intense focus and
concentration. The translator must consider several factors, including selecting the appropriate
word equivalence and using it in the proper context, maintaining the formality levels of the
source and target texts, and accounting for metaphoric language frequently used in media
articles. For this reason, translating the economic terminology is the greatest obstacle that a
translator encounters in his work due to its technical nature as well as the different neologisms
regularly used in the language of economics. As a result, the translation of economic and
financial terms require a range of skills extending far beyond linguistic expertise. Certain
knowledge of the language of economics is one of the most important qualities that the
specialized translator is ought to acquire.

The Influence of Lexical Challenges on the Translation of Economic Terminology:

One of the primary challenges in translating economic texts is the excessive use of
specialized terminology. To tackle this problem, a translator must have access to specialized
dictionaries and choose the correct definition based on the context of the text. Dictionaries are
part of the truth as Kaussmaul (1995) sees , however, relying solely on dictionaries may not
always be sufficient, and the translator may need to conduct further research and read
extensively on financial and economic terminology to enrich their background knowledge.
Additionally, when general English words are used alongside specialized terms, the translator
must account for the nuances of the context and choose the appropriate term.

In the process of translating, it is important to consider the nuances of General English

words when they are used alongside specific terms and in a particular context. For example;
synonyms like Financial freedom ‫ الحري!ة المالية‬and Financial independence ‫االس!تقالل الم!!الي‬
both mean being financially stable. These terms may seem to be synonyms for a non-
specialist audience only as for a specialist audience the difference is obvious and definitely
these terms cannot be used interchangeably. It should be clarified that financial freedom
means having enough money saved to support your current lifestyle without having to work,
whereas financial independence means having enough passive income to cover your expenses
without relying on a traditional job.
Selecting an appropriate equivalent that belongs to the same stylistic category:

When dealing with specialized translation, the translator must involve words and
concepts in any language after he verifies whether they are direct equivalent or special one
according to the language or the scientific culture. Choosing the equivalence that is from the
same stylistic register means selecting a word or phrase in the target language that is not only
semantically equivalent to the original term but also matches its style and tone. In other
words, the translator should choose a word or phrase that is stylistically and register-wise
appropriate in the target language. When translating economic terminology, the translator
should consider the target audience and the purpose of the translation. For instance, if the
translation is for a technical report or academic paper, the translator should use a more formal
and technical register, whereas if the translation is for a more general audience, a more
accessible register may be appropriate.

According to Leech and Startvik (1975) it exists significant distinctions in vocabulary

between formal and informal English language. They note that certain words and phrases are
predominantly utilized in formal settings, while others are more common in neutral or
informal contexts. For example, money is translated into ‫ األموال‬in formal documents while
‫ النقود‬in informal contexts.

Choosing the equivalence that is from the same stylistic register can help to ensure that
the translation is not only accurate but also effective in communicating the intended meaning
to the target audience. It requires a deep understanding of both the source and target
languages, as well as the ability to use appropriate registers and styles in each language.

The Presence of Metaphoric Expressions and Collocations in Economic Texts

Economic terminology is in many cases based on words that have been taken on board
for their metaphoric meaning. The use of figurative language in economic terms should be
conveyed in translation. However, it can be challenging to translate metaphors in economic
language and find equivalent concepts in another language. This poses a significant obstacle
to cross-linguistic communication in the field of economics. Essentially, when economic
language is metaphorical, it is essential to ensure that the meaning of the metaphor is
accurately conveyed in the target language. This can be difficult as the same metaphor may
not exist in the target language or may have a different meaning. For example, the expression
“Hedonic Treadmill” is translated into Arabic as “‫عادة‬::‫ة الس‬::‫”دوام‬. This term refers to the
phenomenon where people's happiness levels tend to remain relatively stable over time,
despite changes in their life circumstances or material possessions. The idea is that people
adapt to their new circumstances and eventually return to their baseline level of happiness,
leading to a constant need for more stimulation to maintain the same level of happiness. For
this reason, the Arabic translation “‫ ”دوامة السعادة‬captures the essence of the term by conveying
the idea of a relentless pursuit of pleasure that ultimately leads to an unfulfilling cycle, in
which it is the closest in meaning to the source expression.

As a result, the economic translator should not only know the economic lexicons and
glossaries; but he must necessarily acquire a deep knowledge of co-occurrences; which
Gerard Ilg calls "blocks of meaning", from reading regular specialized press which is rich
with idiomatic expressions and collocations and to also pay attention to the nuances of both
languages to ensure effective communication.