Latvia’s 2012 Budget May Contain Fewer Cuts, Vilks Tells BNS
The country is targeting savings of 310 million lati ($576.3 million) in the 2012 budget, though this figure may drop to as low as 200 million lati as the economy recovers, Vilks said, according to the Riga-based newswire.
Latvia pledged to make 280 million lati in budget cuts in 2011 to meet the terms of its 7.5 billion-euro ($9.9 billion) loan from a group led by the European Commission and the International Monetary Fund.
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