Скачать или смотреть Portugal to slash public sector salaries by up to 12% - economy

Amid angry protests on the streets of Lisbon, the Portuguese parliament has approved the country's...

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Amid angry protests on the streets of Lisbon, the Portuguese parliament has approved the country's budget for 2014.

600,000 public sector workers are set to face salary cuts of up to 12 percent and reductions to their pensions.

Portugal's Finance Minister Maria Luis Albuquerque told parliament the public sector cuts were "inevitable" - as the government struggles to reduce its deficit and satisfy its international lenders.

VAT is also being be hiked to 23 percent for businesses in the food and drink sector.

Bruno Dias of the Portuguese Communist Party warned that the costs of the measure would be huge, describing "a desperate economic and social situation for thousands of small and micro businesses" who had been "condemned once again in the budget."


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