UAE – Mubasher: The Greek parliament endorsed state budget for the fiscal year 2016, which included cuts in spending by 5.7 billion euros and increases in some tax to satisfy the country's international lenders at a time of growing austerity fatigue.
The Greek government is under pressure to deliver tangible benefits to its poorest citizens after having signed to a third rescue package from Eurozone in August worth up to 86 billion euros.
The budget makes 5.7 billion euros ($6.2 billion) in public spending cuts including 1.8 billion from pensions and 500 million from defense. The savings are greater than this year's 1.5 billion euros. It also included tax increases of just over 2 billion euros.
