FinMin sets out how it would alter policy mix to prevent pension cuts

EconomyMacroeconomy Tags: Budget, IMF, MoF
Photo by MacroPolis
Photo by MacroPolis

In its efforts to avoid the politically sensitive issue of cutting pensions further, the Finance Ministry presented in the draft budget this week an alternative scenario consisting of a significantly different fiscal policy from the one included in the Medium-Term Fiscal Strategy (MTFS) this summer.

The issue of savings worth 2 percent of GDP for the post-programme period was pivotal for the completion of the second review in June 2017. This helped keep the International Monetary Fund involved, which was a basic requirement for certain core eurozon...

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