• 1999-10-07
Latvia's government admits it made a mistake when it cut pension benefits as a means for trimming the state budget. But what a costly mistake it has turned out to be.A referendum that will ask voters whether to accept or reject plans to rapidly increase the retirement age and to forbid working pensioners from collecting both salary and pension is almost certain to go forward. This puts Latvia in the untenable situation of spending at least 1 million lats ($1.72 million) on referendum expenses to decide how it should cut overall spending in a budget that has little more than two months of li...
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