Croatias govt approves 3% wage cut for public sector employees as of March.

By bne IntelliNews March 1, 2013
The Croatian government approved a 3% wage cut for public sector employees as of March 1, 2013 as it seeks to tackle the budget deficit, news agency HINA informed. Government officials, judges and other judiciary officials will earn less as of March, while salaries of teachers will be increased by 2.82%, administration minister Arsen Bauk was quoted as saying. As earlier reported, the government will make budget expenditures savings of about HRK 1.76bn (EUR 232mn) via cutting the public sector wages by 3% this year. The wage cut and the abolishment of Christmas and holiday bonuses was expected to contribute to the stabilisation of the wage balance. After this measure there will be no need for further wage cuts by end-2013.
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