The austerity package is designed to reduce the budget deficit to 2.9% of GDP this year and to 1.9% in 2020. It includes a range of measures such as a freeze on public sector wages, a reduction in the number of public sector employees, and a cut in the number of ministries. It also includes a proposal to raise the retirement age from 65 to 67.
The Finance Minister said the package was a necessary step to ensure the country’s long-term economic stability. He added that the government was committed to protecting the most vulnerable in society and that the package would not affect pensions or social benefits.
The package has been met with criticism from some members of the ruling coalition, who argue that it does not go far enough in tackling the country’s fiscal problems. However, Mr. Stanjura said the government was confident that the package would be approved by the lower house.