Belgium extends austerity measures


Belgium is to extend austerity measures by 1.82 billion euros (US$2.39 billion) because of a possible contraction of its economy this year, to keep its 2012 budget deficit within EU limits. After a full week of talks, ministers from the six-party coalition agreed a series of measures on Sunday as well as the freezing of a further 650 million euros of spending, in case further economic weakness meant more savings were required.

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