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Tough decisions finally showing positive results

Feb 10, 2010
From wire reports

RIGA - Rating agency Standard & Poor says that due to the substantial and sustained government wage cuts Latvia has undergone as part of austerity measures to reduce its budget deficit, the country is on the road to improved competitiveness, reports news agency Bloomberg. “Wages are adjusting sharply lower, both in the public and private sectors,” says S&P analyst Frank Gill. “There are some indications of the beginning of a recovery of exports, and the early da ...

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