A look at Greece’s new austerity measures
Feb 22, 2012, 12:25 PM
(AP) – Greece’s lawmakers are to vote on a bill detailing euro3.18 billion ($4.2 billion) worth of austerity measures, as part of a second euro130 billion ($171 billion) bailout package and euro107 billion ($141 billion) debt relief deal with private creditors.
Here is a glance of the main budget cuts.
_euro537 million cut to health and pension funds, of which euro500 million goes from the new national primary health care organization; euro15 million from OTE phone company fund; euro21 million out of the public power company fund.
_euro200 million cut to operating costs for ministries.
_euro400 million cut in Defense Ministry spending, of which euro300 million will go from procurement and euro100 million from operating costs.
_euro386 million cut in main and supplementary pensions.
_euro576 million cut in pharmaceutical spending.
_euro50 million cut to state hospital doctors’ overtime.
_euro43 million cut in subsidies for families with more than three children.
_euro25 million cut to Culture and Tourism Ministry funding.
_euro86 million cut to Agriculture and Food Ministry spending, of which euro26 million in subsidies and euro60 million in compensation.
_euro80 million cut to education spending, including euro39 million in replacement teacher fees and fees for teachers working in Greek schools abroad, and euro10 million in research and technology subsidies.
_euro70 million cut in election spending.
_euro59 million in funding for municipalities.
_euro66 million cut in Finance Ministry spending for state pensions.
_euro205 million cut to state salary costs.
_euro400 million cut to public investment budget.
_euro3 million cut to utility company salary costs.
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