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"Life at -25%," headlines Evenimentul Zilei after the government’s decision to jack VAT up 5% starting 1 July and to slash civil service pay by 25% in a bid to shrink the budget deficit and qualify for a crucial new tranche of aid from the IMF. The package will increase prices by 10%, reports the daily, explaining that the government took this tack after the constitutional court rejected 15% cuts in retirement benefits under its original austerity plan.
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