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Czech Parliament approves 2011 state budget

Czech Parliament approves 2011 state budget

The Czech Parliament has approved the 2011 state budget with a deficit reduced by unpopular austerity measures.
In the 112-75 vote Wednesday, lawmakers approved deficit spending of 135 billion koruna ($7.2 billion), or 4.6 percent of gross domestic product. The deficit is predicted to reach 5.3 percent this year.
To reduce the deficit, the government pushed through a package of austerity measures _ opposed by the nation's unions _ that include welfare cuts and a 10 percent slash of public sector pay.
Nearly 150,000 state employees walked off the job a week ago to protest the cuts.
Unions threatened further protests are likely to follow.
The measures are similar to those adopted by other European countries grappling with the financial crisis caused by too much government debt.


Updated : 2021-10-24 00:23 GMT+08:00