Spain is going to apply minimum pension cuts suggested by experts

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/RS
The government will cut the pension deficit by 25% per year starting with 2019 compared to proposed range of 25-33% reductions beginning with 2014-2019. By 2016, Spain must decrease budget deficit to maximum 3% of GDP, while in 2012 country's total deficit amounted 6.8% of GDP, from which 1% or 10 billion euros was contributed by the system of social provisions.  
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