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Honduras slashes public spending by $600 million

Thursday, August 16, 2012

The Honduran government passed a bill to drastically cut public spending by some $600 million to weather a severe economic crisis affecting the country.

The Council of Ministers agreed to make an 11 percent reduction in the salaries of public-sector employees who earn more than $2,500 a month, as part of the measures needed to trim the public budget.

Other measures include a freeze in the hiring of new employees and creation of new posts, as well as firing employees who have no clearly defined duties.

Source: Bernama