Greece reduces costs and raises taxes

It is known that the Cabinet of Ministers of Greece, which is currently in crisis, at a meeting on measures to reduce the budget deficit of the country, decided to reduce the budget deficit in 2010 to 4.8 billion euros. And the fight with the Greek government deficit will, in particular, decreased to 30% bonus payments of civil servants and increase to 2% of value added tax - up to 21%. According to approximate calculations of experts, reducing bonuses of civil servants will receive savings of up to 0.7 billion euros, an increase in VAT to 21% of the country's budget will bring an additional 1.2 billion euros. Recall that the end of 2010 Greece's budget deficit was 12.7% of GDP and the EU requires immediate action by Greece to reduce debt and reducing the country.