The Belgian government has reached an agreement on additional savings this year to bring its budget deficit within the European Union limit amid a weaker economy, Belga reported.
At a meeting that ended late yesterday, ministers agreed to save 1.8 billion euros ($2.4 billion) and freeze some 650 million euros of expenditures, Belga quoted Premier Elio Di Rupo as saying. The austerity will enable Belgium to reach a deficit goal of 2.8 percent of gross domestic product in 2012, below the EU limit of 3 percent, the newswire said.
Details of the accord will be announced today, according to Belga.
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