Latvia to slash a further 150-180 million lats

  • 2011-04-14
  • TBT Staff

RIGA -- The Latvian government has announced after a meeting with international lenders that it will slash an additional 150-180 million lats from next year's budget.

The move represents another step in an ongoing series of painful cuts demanded by international lenders as part of the terms of the loan.

The announcement came on the heels of a parliamentary vote to extend cuts to social spending, including sickness, maternity, paternity, parental and unemployment benefits, LETA reported.