Lithuania Plans Further Austerity Measures in 2011
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Lithuania’s government plans to introduce new austerity measures next year to save 1.3 billion litai ($460 million) to 1.5 billion litai, Prime Minister Andrius Kubilius said.
The savings will come partly from plans to increase the retirement age, extend cuts in public employee wages that expire next year and reduce paternity leave benefits, Kubilius said in a press conference today in Vilnius. In addition, an economic recovery is expected to reduce the deficit by about 2 billion litai next year, Kubilius said.