Budget cuts spark protest

Jun 18, 2009
By Kate McIntosh

RIGA - The Latvian government has announced plans to massively reduce old age pensions and state sector salaries as it fights to stave off economic collapse and rumors of currency devaluation. At an extraordinary meeting on June 16 the Saeima (Latvian Parliament) adopted amendments to the law which envisage slashing 500 million lats (711.43 million euros) from national budget expenditures. The move, which followed heated discussions, is a bid to win further aid payments from the Internationa ...

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