Latvia is 'saved from bankruptcy'

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Latvia is 'saved from bankruptcy¹' 拉脱维亚从破产中得救

Latvia's prime minister says that he has saved the country from bankruptcy.

 

Valdis Dombrovskis told public radio that the decision late on Thursday to cut 500m lats ($1bn; £607m) from the budget（预算） was "very difficult".

 

But the cuts were needed for the country to receive the next installment（分期付款） of its European Union bail-out loans.

 

The country agreed a 7.5bn euro ($10.5bn; £6.4bn) loan package in December, but must cut the budget deficit（预算赤字） to receive the loans.

 

"The signals we have been getting from the European Commission are positive," he said.

 

The five-party coalition² government（联合政府） agreed to a series of measures with unions and employers.

 

The cuts will include reducing old age pensions by 10% and cutting public sector³ salaries by 20%, but they decided⁴ against increasing income taxes.

 

Parliament will vote on the changes next week.

 

Latvia's currency is pegged⁵ to the euro, but the recession has hit Latvia so badly that many analysts⁶ believe it will have to devalue the lat.

 

Latvia's central bank has been intervening to support the currency this week. (本文由在线英语听力室整理编辑) 

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