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Czech government wants to freeze pensions

Czech government wants to freeze pensions

28 February 2012 07:44 (UTC +04:00)

Baku - APA-Economics. The Czech prime minister says his government is planning to increase taxes and make unpopular spending cuts due to the economic slowdown, Washington post reported.

Petr Necas says the government will spend 23 billion koruna ($1.2 billion) less this year than planned in the budget.

Necas says that for 2013 and 2014, the government also wants to increase the sales tax on retail goods, possibly hike the income tax for the highest-earners and freeze pensions.

The measures, which Necas on Monday called â€œnecessary,â€ should help reduce the government budget deficit under 3 percent of GDP next year and completely eliminate the deficit by 2016.

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